Monarch Tractor shifts manufacturing after Foxconn exit

Monarch Tractor shifts manufacturing after Foxconn exit

Monarch Tractor manufacturing moves forward after Foxconn exit Monarch Tractor is entering a new phase in its journey after ending its manufacturing partnership with Foxconn. The shift follows Foxconn’s sale of its Ohio factory to SoftBank, prompting Monarch to secure fresh production plans. According to CEO Praveen Penmesta, the company worked closely with Foxconn to build enough electric tractor inventory to meet demand for the next 12 months. This move ensures customers will continue to receive products and support while Monarch explores new manufacturing partnerships. Image Credits:Monarch Tractor The end of this collaboration is a significant moment for the agricultural technology sector, as Monarch has been one of the leading innovators in autonomous, electric farming equipment. With the Ohio plant now transitioning to other projects, Monarch is focused on expanding its reach and introducing new products powered by its technology. Why Monarch Tractor’s manufacturing shift matters Mon…