CNH Industrial N.V. has signed a multi-year exclusive licence deal for electrification technology with Monarch Tractor, a US-based AgTech firm that specialises in completely electric autonomous tractors.
Regarding this momentous deal in the world of Farm Mechanisation Scott Wine, the CEO of CNH Industrial had this to say to the reporters “We are confident that the new pathways provided by Monarch will rapidly strengthen our competitive position in sustainable precision farming. 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,”
This licencing deal with Monarch calls for the development of a scalable, modular electrification platform aimed at low horsepower tractors. In the future years, they will be developed across many product families utilising an agile methodology that regularly captures farmers' feedback to guarantee we generate industry-leading, innovative solutions that are aligned with customer demands.
Regarding the inclusion of electrification and exchange of sustainable technology with Monarch, Scott Wine said “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.”
This deal also contributes to CNH Industrial's continuous commitment to decarbonizing agriculture through alternative propulsion technologies.
CNH Industrial's plan to become an even greater technological leader in agriculture and deliver customer value includes electrification and machine automation as fundamental concepts. This mutually beneficial collaboration enables CNH Industrial to improve its internal electrification capabilities and create and deploy new electrified platforms more quickly. In exchange, Monarch Tractor will benefit from CNH Industrial's broad industry knowledge in product, brand, distribution, and supply chain strength.
This Deal is a step forwards in the right direction for Farm Mechanization as it will help introduce electric tractors to the farmers at a faster pace on a Global scale.
