CNH Industrial Enters into Multi-Year Technology-Licensing Agreement with Monarch Tractor

CNH Industrial has entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor, the California-based company specializing in electric, autonomous tractors.

The license agreement, states CNH Industrial, “foresees the launch of a scalable, modular electrification platform focusing on low-horsepower tractors. These will be developed across multiple product families in the coming years…. This agreement furthers CNH Industrial’s ongoing commitment to decarbonizing agriculture through alternative propulsion systems.”

Monarch MK-V Tractor

Founded in 2018, Monarch Tractor had received a minority investment from CNH Industrial in March 2021. The Monarch Tractor, which can be operated with or without a driver, is 100-percent electric and has zero tailpipe emissions. It also serves as a 3-in-1 electrification tool, operating as a tractor or an ATV during operation, and is capable of acting as a powerful generator in the field.

“We are confident that the new pathways provided by Monarch will rapidly strengthen our competitive position in sustainable precision farming,” says Scott Wine, CEO, CNH Industrial. “Their talented team, exceptional engineering acumen and Silicon Valley R&D ecosystem will greatly enhance our digital capabilities. We look forward to working with Monarch to accelerate innovation in EV technology and expeditiously bring customer-valued, autonomous, fully electric solutions to the world’s farmers.”

CNH Industrial brands include Case, New Holland, Steyr and others.

CNH INDUSTRIAL
www.cnhindustrial.com

MONARCH TRACTOR
www.monarchtractor.com

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