Taiwanese contract manufacturer Foxconn has commenced production of the first MK-V all-electric tractors for Monarch under a previously announced manufacturing agreement. The first tractors recently rolled off assembly lines at the well-known Lordstown production facility in Ohio.
Hon Hai Technology Group, better known as Foxconn, is the world’s largest electronics manufacturer with half a century’s worth of experience building everything from iPhones to gaming consoles and, most recently, EVs, semiconductors, and AI tech.
In late 2021, struggling EV start-up Lordstown Motors agreed to sell its manufacturing facility in Ohio to Foxconn under an agreement that the Taiwanese experts could help get the automaker’s Endurance pickup into scaled production.
That asset purchase agreement (APA) was completed last May in exchange for $230M in cash. Hours later, Foxconn shared that its newly acquired facility would also be home to the assembly of Fisker’s second planned EV model, the PEAR.
As a fresh hub for EV production in the Midwest, Foxconn expanded its client list beyond passenger vehicles and into electric tractors, sharing news of a contract manufacturing agreement with Monarch Tractors to take over assembly of its all-electric MK-V, along with the battery packs to power them.
Eight months later, Foxconn has produced the first Monarch electric tractors in Lordstown.
Foxconn completes build of first five electric tractors
Monarch Tractors shared news of the start of contracted production of its MK-V electric tractors at Foxconn’s Lordstown facility, assembling the initial five models ready for customer deliveries. Both partners confirmed that MK-V production is on schedule, and these first five builds represent an important milestone in the partnership. Per Monarch CEO and cofounder Praveen Penmesta:
As a leader in manufacturing some of the world’s most influential electric and autonomous technologies, Foxconn is the ideal partner for us as we look to rapidly expand production of the MK-V. Today’s farmers need solutions like the MK-V now that will increase farm profitability and sustainability and we’re the first company that is able to fulfill the global demand for these solutions. This is also a massive opportunity to produce large volumes of smart tractors in this class. We are excited to partner with Foxconn as we forever change the future of electrified farming.
The MK-V can be operated with or without a driver inside and comes equipped with advanced safety technologies, including collision prevention, human detection, and power take-off (PTO) protection, enabling it to stop moving if it detects a person within six feet and shut down if it detects someone within one foot. That’s all within a tractor that is eerily quiet and produces zero emissions – perfect for a crucial agricultural segment.
After the initial five electric tractors are delivered, Foxconn plans to continue fine-tuning its assembly lines and material sourcing as it prepares for full-scale production in Lordstown. Per Foxconn:
We’re very pleased with the product quality ahead of full-rate production. This milestone is achieved thanks to our employees and the strength of our ongoing partnership with Monarch Tractor. Foxconn prides itself on our partnerships, and we believe the shared goal of promoting sustainability and safety in agriculture is one of the many reasons we have found the right partner in Monarch Tractor.
Here’s some footage of the Monarch MK-V electric tractors being built:
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