New Delhi: Sonalika International Tractors today unveiled a 120 HP tractor Solis 120, the first Indian firm to do so, as it aims to consolidate its position in domestic and overseas markets.
The tractor, which has been indigenously developed and manufactured by the company, has a lifting capacity of 4,500 kg.
“Through this 120 HP tractor, the company is focusing on commercial farmers, by providing an ease in doing arduous work,” Sonalika ITL Managing Director Deepak Mittal said in a statement.
With the launch of the new tractor, the company aims to further strengthen its exports.
It currently exports to more than 24 European countries, making it a leading Indian brand in Europe and markets like Algeria, Nepal, Bangladesh and Myanmar. In the last four months, the company witnessed a growth of 24 per cent in exports with overseas shipments surpassing 4,000 units. The company has so far exported more than 65,000 tractors since it began shipping tractors to overseas markets in 2012. “Going forward, in next five years as part of our growth strategy, we are aiming to gain a respectable market share in China and USA, the second largest and third largest tractor markets respectively,” Mittal said.
Sonalika has already established strong footprint across South and Latin American markets.
Sonalika ITL is the first and only Indian company to indigenously develop and manufacture 120 HP tractors with the aim to strengthen and increase its presence in domestic and overseas market, it claimed.