Monarch Tractor Receives Minority Investment From CNH IndustrialMarch 1, 2021
Monarch Tractor recieved minority investment from CNH Industrial, which will assist in accelerating agricultural industry transformation towards autonomy and electrification. This strategic partnership is an important step towards further enhancing long-term sustainability, enabling the world’s farmers and agribusinesses to realize profitable zero-emission farming.
Monarch’s leading-edge electric tractor platform offers a unique combination of a fully electric powertrain with autonomous technologies. This is paired with a comprehensive agronomic and machine data management platform to deliver a complete technology ecosystem. This technology will provide professional agriculture producers a first-to-the-market offering in the sub-100hp segment, which lowers overall emissions, improves agronomic insights and enhances safety.
“Monarch is pioneering tractor technology that incorporates electrification, autonomous use, and data management. These are three of the key pillars supporting sustainability, productivity, and profitability, both for CNH Industrial and for our farming customers,” said Scott Wine, Chief Executive Officer, CNH Industrial. “We are incredibly excited to work with Monarch to develop and deploy their ground-breaking technology ecosystem, which we believe has applicability across our entire Off-Road business. This partnership underscores our commitment to rapidly improving our alternative propulsion and precision farming portfolio, while extending our world-leading sustainability credentials.”
“Monarch Tractor is a 21st century tool for the global farmer helping increase farm sustainability and efficiency. We share CNH Industrial’s commitment to supporting the sustainable development of agriculture and are excited about the partnership’s positive global impact on farm economics and sustainability,” said Praveen Penmetsa, CEO, Monarch Tractor.