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Monarch Tractor is an all-electric autonomous compact tractor, excellent for common agriculture use. | Supply: Monarch Tractor
Monarch Tractor signed a contract manufacturing settlement with Foxconn to provide the Monarch MK-V electrical tractor and battery packs on the Foxconn Ohio manufacturing facility.
Monarch co-founder and CEO Praveen Penmetsa labored within the automotive market early in his profession, and isn’t any stranger to the automotive provide chain within the midwest. The Foxconn Ohio facility is positioned close to Lordstown in jap Ohio and boasts roughly 6.2 million sq. foot campus of scalable manufacturing area. The power produced Basic Motors automobiles for 50 years earlier than promoting the property to Lordstown Motors in 2019. Different notable purchasers of Foxconn on the facility embrace Apple and the electrical truck firm Lordstown Motors.
FoxConn bought the Lordstown manufacturing web site in Might 2022. | Credit score: Enterprise Journal
Full-scale manufacturing of Monarch Tractor’s MK-V Collection is scheduled to start within the Lordstown facility in Q1 2023. It will comply with manufacturing of Monarch’s Founder Collection in This autumn of 2022 at Monarch Tractor’s Livermore, California, manufacturing facility.
“Leveraging Foxconn’s manufacturing strengths, world-wide community of business leaders and provide companions, and our new partnership with Monarch Tractor, Foxconn is positioned and wanting to contribute to the continued and future success of Monarch Tractor, its merchandise and its prospects,” stated Younger Liu, chairman of Hon Hai Know-how Group. “This partnership displays Foxconn’s rising heart of gravity for autonomous electrical car manufacturing and the potential that may emerge from forward-thinking collaborations.”
In Might 2022, Foxconn assumed manufacturing operations at its Ohio facility after finishing an Asset Buy Settlement with Lordstown Motors Corp. The settlement with Monarch Tractor is the primary contract manufacturing engagement by Foxconn following the closing of the APA. It embodies the Foxconn imaginative and prescient to broaden its contract manufacturing within the EV market. The settlement additionally continues the transformation of Foxconn capabilities within the Mahoning Valley.
“Creating the business’s most superior tractor calls for a producing companion with the expertise to shortly scale and execute with precision,” stated Penmetsa. “Foxconn is an EMS chief whose manufacturing and options are world-renowned. We’re proud to companion with Foxconn and work collectively to rework the way forward for farming.”
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