Caterpillar has reportedly bought the technology behind the self-driving electric tractors made by American firm Monarch Tractor.
There is nothing official from either company, but US media reports the construction giant has acquired the software, electric drive technology and engineering team of the financially strapped California-based startup.
The acquisition aligns with Caterpillar’s core business in construction and industrial machinery, an area where automation and electrification are becoming more prominent.
Launched in 2018, Monarch previewed the MK-V prototype at the end of 2020. In production early 2023, the electric drivetrain provided 40hp (30kW) of continuous power and a short duration peak up to 70hp (52kW).
Co-founded by winegrower Carlo Mondavi and former Tesla executive Mark Schwager, Monarch raised around US$250 million over the last eight years. CNH Industrial also had a minority investment in the North American startup, and Monarch technology played a role in the autonomous New Holland T4 Electric Power prototype.
Earlier this year, Monarch announced plans to open a European branch in Belgium. As well as an R&D department, there was also talk of manufacturing electric tractors for the European market.
Monarch opens European HQ in Belgium – Profi
Electric tractors in production – Profi
For more up-to-date farming news click here and subscribe now to profi and save 47%.
