Korean tractor maker Daedong ends two-decade partnership with Deere

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The story "Korean tractor maker Daedong ends two-decade partnership with Deere" was covered 6 days ago by Korea Economic Daily, a news publisher based in South Korea.

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Korean tractor maker Daedong ends two-decade partnership with Deere - Korea Economic Daily

Quick Summary:

Last year, it diversified its lineup by launching the 20-to-60 horsepower GX series of mid-sized tractors, which are at least 20% more profitable than smaller ones.“Before launching the HX series, John Deere tractors accounted for 20% of our sales, but the percentage dropped to 10% last year, meaning our separation with Deere won’t affect our revenue much,” said the Daedong official.“We are also considering a partnership with another global agricultural machinery company to secure a product lineup above 150 horsepower, which we don’t currently manufacture in-house,” he said.

We believe these models are competitive enough to end our contract with John Deere.”Daedong has been expanding its product lineup to include medium-to-large-sized tractors – traditionally Deere’s main focus – reducing the need for collaboration, sources said.

Daedong Corp., South Korea’s leading tractor and farm machinery maker, has ended its two-decade-long partnership with Deere & Co., the world’s largest maker of farming machines sold under the John Deere brand.