Starting in November, New Holland, the agricultural and construction equipment subsidiary of Italian car maker Fiat SpA, started exports to Asia, Africa, the Middle East and Russia of its new TL 5000 farm tractor, the group's first tractor produced in China.
The new tractors, launched on the Chinese market in May 2007, are made in China and based on the TL tractors the company produces in Europe.
There are three types of the TL 5000 tractor, of 80, 90 and 100 horse power, respectively. Each type is available with two and four wheels and different cabins and platforms.
The new farm tractor TL 5000 is produced by Shanghai New Holland, created in 2002 with a combined investment of $75 mln (51.2 mln euros) as a joint venture of New Holland and the Chinese Shanghai Automotive Industry Corporation.
Shanghai Hew Holland hopes to gain 15% of the Chinese tractor market with its new 80 to 100 horse power products and to further expand, offering the full range of tractors from 50 to 100 horse power.
The company also plans to produce 5,000 units per year of the new TL 5000, 50 pct of which for export.
Shanghai New Holland aims at exceeding 11,000 units of tractors produced in China by the end of 2007, distributed by 130 dealers.
