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 IndustrialN.V.
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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Media contact:
Laura Overall
Corporate Communications Manager
CNH Industrial
Tel. +44 (0)2077 660 338
Email: mediarelations@cnhind.com
www.cnhindustrial.com
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- 20210302_PR_CNH_Industrial_Monarch_Tractor (https://ml-eu.globenewswire.com/Resource/Download/807dfabf-6687-496d-adaa-2e54aa7f0b84)
