The agricultural machinery manufacturer Fendt wants to increase production by around 1,000 tractors this year and also offer an electric model in the future. As the Bavarian company reported at the Agritechnica fair in Hannover, more than 21,000 machines are expected to be sold worldwide by 2023. Last year the limit of 20,000 was just reached. Since 1997, Fendt has been part of the American group AGCO, one of the largest manufacturers of agricultural machinery.
The company generally expects the market to cool in 2024, partly due to higher interest rates. However, good business is still expected in the field of more powerful agricultural machines with more than 200 hp, in which Fendt is traditionally well represented.
Small tractors will increasingly be electric in the future
Fendt wants to offer electric technology in the field of smaller tractors. After the company presented and subsequently tested an electric tractor in 2017, the machine can now be ordered.
The electric tractor will be produced in Marktoberdorf from the fourth quarter of 2024. The tractor is, for example, intended for use in greenhouses or in municipalities. It is also attractive for companies that generate their own energy using photovoltaics, wind energy or biogas.
AGCO does not disclose detailed operating figures. In addition to the head office in the Allgäu, Fendt has four other production locations in Germany, with a total of approximately 7,700 employees. This means that the number of employees has increased by approximately one tenth within a year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
