CNH Industrial completes minority investment in Monarch Tractor
London, March 2, 2021
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that it has completed its minority investment in Monarch Tractor, a US-based agricultural technology company, 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, headquartered in Livermore, California, USA, was founded in 2019, and is committed to elevating farming practices to enable clean, efficient, and economically viable solutions for farmers. In 2020 the Company introduced the world’s first fully electric, driver optional, smart tractor integrated on a single platform.
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com
Monarch Tractor is working to utilize 21st-century technology to empower farmers by enabling profitable implementation of sustainable and organic practices. The Monarch tractor platform combines mechanization, automation, and data analysis to enhance farmer’s existing operations, alleviate labor shortages, and maximize yields. For more information, visit www.monarchtractor.com.
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