Valtra traces its origin to Valmet, Bolinder, Munktell and Volvo. Bolinder-Munktell merged with Volvo in 1950 to form BM Volvo. In 1979, BM Volvo/Volvo BM and Valmet formed a joint venture for tractor manufacturing, and the tractors were labelled Volvo BM Valmet. The name was shortened to just Valmet, after Volvo sold their share of the tractor operation to Valmet. In 2001 Partek purchased Valmet, and the tractors were renamed Valtra-Valmet, and later that was shortened to just Valtra. In 2002, Partek was purchased by the KONE Corporation, and Valtra was put up for sale. AGCO purchased the tractor business in 2004.
Valtra has factories in Finland and Brazil, with significant presences both places. Valtra licensed Eicher of India to build tractors under the Eicher Valtra and Euro Power brands. The Harkovsky Tractor Works (HTZ) of Ukraine signed a letter of intent with Valtra in 1998 for cooperation of some sort. The Hattat Company in Turkey began assembling Valtras in 2003.
In 2015 a Valtra tractor equipped with Nokian Tyres set a new world speed record for tractors at 130.165 km/h. 
One defining feature of the Valtra N-, T- and S-series (and other earlier mid- and high-end series) is the optional TwinTrac reverse-drive system. Then the seat, along with the armrest located cotrols can be turned through 180 degrees to meet a second set of foot pedals and a smaller steering wheel placed at the rear of the cab. This allows the operator to drive the tractor backwards and use rear mounted implements more efficiently. Only Fendt has provided a similar fully integrated reverse-drive system, while in other brands such devices have been post-manufacture, third party additions.
Valtra has had a tradition of allowing the customer to tailor the tractor to specific needs and desires, in recent years called 'a la carte'. Several options have been available pertaining to for example the tractors color, transmission type and speed, hydraulics, PTO and suspension. In 2013 the Unlimited Studio was introduced to serve the customer further in this regard, allowing the addition to the tractor of "anything within reason" as a final step in the assembly process.
Valtra series being made today:
- Valtra S-series (270-400 hp)
- Valtra T-series (170-250 hp)
- Valtra N-series (88-160 hp)
- Valtra A-series (74-98 hp)
- Valtra 3000-series (52-76 hp)
A different set of models are produced in Brazil:
- Valtra BL (65-95 cv)
- Valtra BM (100-125 cv)
- Valtra BH (145-205 cv)
- Valtra BT (150-210 cv) with higher end technology compared to BH line
- Valtra BC (Harvesters)
- Valtra BS (Sprayers)
A special series made in Argentina since 2014
- Valtra AR (140-210 cv) 
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