Taiwanese electronics manufacturing giant, Foxconn, has commenced production of Monarch Tractor’s all-electric MK-V tractors, under a contract manufacturing agreement. The first tractors recently rolled off the assembly lines at Foxconn’s Lordstown facility in Ohio. Foxconn, which is the world’s largest electronics manufacturer, acquired the Lordstown facility from struggling electric vehicle (EV) start-up, Lordstown Motors, in late 2021. Under the agreement, Foxconn agreed to help Lordstown Motors produce its Endurance pickup truck.
The acquisition was completed in May 2022, and soon after, Foxconn announced that it would also assemble Fisker’s PEAR EV at the facility. Foxconn expanded its client list further by partnering with Monarch Tractors to produce the all-electric MK-V tractors. Eight months later, Foxconn has successfully produced the first five electric tractors for Monarch at the Lordstown facility.
The MK-V tractors can be operated with or without a driver inside, and they come with advanced safety features, including collision prevention, human detection, and power take-off protection. These features allow the tractor to stop moving if it detects a person within six feet and shut down if it detects someone within one foot. The tractors produce zero emissions, making them ideal for the agricultural sector.
Monarch Tractors CEO and cofounder, Praveen Penmesta, expressed excitement at the start of production and partnership with Foxconn, stating that “Foxconn is the ideal partner for us as we look to rapidly expand production of the MK-V.” He also noted that the MK-V tractor is an important solution for farmers who need to increase profitability and sustainability.
After delivering the initial five electric tractors, Foxconn plans to fine-tune its assembly lines and material sourcing as it prepares for full-scale production. The company is pleased with the quality of the product and attributes its success to the strength of the ongoing partnership with Monarch Tractor. Foxconn is committed to promoting sustainability and safety in agriculture and believes that its partnership with Monarch Tractor is an essential step towards achieving this goal.
As Foxconn continues to expand its EV production capabilities, the partnership with Monarch Tractor is an important milestone in its journey towards sustainable and innovative solutions for the agricultural sector.
