CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) has entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor, a U.S.-based AgTech company specialising in fully-electric, autonomous tractors. The agreement will help enable the launch of a scalable, modular electrification platform focusing on low horsepower tractors.
This partnership enables CNH Industrial to enhance its internal electrification capabilities and develop and implement new electrified platforms faster.
In turn, Monarch Tractor will be able to harness benefits of CNH Industrial’s deep sector expertise in product, brand, distribution, and supply chain strength.
Scott Wine, Chief Executive Officer, CNH Industrial, says: “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.”
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Monarch Tractor, headquartered in Livermore, California, U.S., is a leader in in-field electrification, automation, and data technologies to create a more profitable, sustainable, food ecosystem through its all-electric, driver-optional Monarch Tractor.
Keyword: CNH Industrial Announces Electrification Technology Agreement With Monarch Tractor