CNH Industrial N.V. [NYSE: CNHI] has inked a multi-year exclusive technology licensing pact with Monarch Tractor. Monarch Tractor is a US-based AgTech company specializing in fully electric autonomous tractors. This pact also expands CNH Industrial’s ongoing promise to decarbonize agriculture through alternative propulsion systems.
Electrification and machine automation are important principles of CNH Industrial’s strategy to become an even greater technology leader in agriculture and drive customer value. This mutually beneficial collaboration allows CNH Industrial to improve its internal electrification abilities and develop and deploy new electrified platforms faster.
Multi-Year License Agreement
Furthermore, the licensing pact anticipates the unveiling of a mountable, modular electrification platform aiming at low horsepower tractors. These will be created across multiple product families in the coming years. It is utilizing an agile process that incessantly assembles farmers’ input to guarantee that the firm creates industry-leading, differentiated solutions that line up with customer needs.
In addition, as per the partnership, Monarch Tractor will be able to utilize the benefits of CNH Industrial’s deep sector expertise in product, brand, distribution, and supply chain strength. CNHI believed that the new routes offered by Monarch will help the firm to gain a competitive edge in sustainable precision farming. Monarch’s brilliant team, excellent engineering expertise, and Silicon Valley R&D ecosystem will significantly improve CNHI’s digital capabilities.