Monarch Tractor Expands Operations to India

LIVERMORE, Calif. – January 19, 2022 – Monarch Tractor, maker of the MK-V, the fully electric,  driver-optional, smart tractor, today announced the expansion of its operations to Hyderabad, India. As a leader in electric autonomous tractors, Monarch Tractor will use the new market opportunity to enhance research and development efforts in the United States in addition to global supply chain support.

“This is a long awaited expansion that we have worked diligently to bring to life,” said Praveen Penmetsa, Co-Founder & CEO, Monarch Tractor. “Historically important to Monarch and our growth as a company, this additional base of operations serves as an opportunity for us to explore Monarch’s development at a global scale while staying close to our mission to transform farming and provide value to farmers. We look forward to this new start of our global journey in India as we continue to work towards making sustainable farming more accessible and attainable.”

Monarch’s journey first began in India as one of the prototypes for the first electric tractor was used in trials in India. Now, off the heels of Monarch’s successful release of their MK-V, Monarch is examining a potential for future models while also expanding its global footprint. As operations begin this month, Monarch is also hosting a recruiting drive to help staff its offices.

Launched to the public in 2020, Monarch Tractor transformed the agriculture industry with next generation EV technology and unparalleled automation capabilities to meet farmers’ most  pressing needs. To date, the company has captured the attention of the investment community, raising more than $110M including a $61M Series B round in 2021. The expansion to India builds upon the substantial marking Monarch Tractor has in the US, including membership in the NVIDIA Inception startup program, several strategic partnerships globally including CNH Industrial and V.S.T. Tillers Tractors, and a contract manufacturing agreement with Hon Hai Technology Group  (“Foxconn”,) the world’s largest electronic manufacturer, to build the MK-V and its battery packs at the Foxconn Ohio facility.

To learn more about Monarch Tractor, visit www.monarchtractor.com.

About Monarch Tractor 
Founded in 2018, Monarch Tractor utilizes 21st-century technology to empower farmers by  enabling profitable implementation of regenerative, sustainable, and organic practices. Monarch  Tractor’s Founder Series MK-V is the world’s first fully electric, driver optional, smart tractor set  to enhance farmers’ existing operations, alleviate labor shortages, and maximize yields. Monarch  Tractor is committed to elevating farming practices to enable clean, efficient, and economically  viable solutions for today’s farmers and the generations of farmers to come. With cutting-edge  technology, global reach, and an experienced team, Monarch is delivering meaningful change for the future of farming. For more information, visit www.monarchtractor.com.