Hon Hai Technology Group (Foxconn) has signed a contract manufacturing agreement (CMA) with Zimeno Inc. (doing business as Monarch Tractor) to build next-generation agricultural equipment and battery packs at the Foxconn Ohio facility. (Photo: Business Wire)

The contract manufacturing agreement ‘reflects Foxconn’s growing center of gravity for autonomous electric vehicle production,’ according to the company’s chairman

August 9, 2022

LIVERMORE, Calif., and TRUMBULL COUNTY, Ohio—Hon Hai Technology Group (Foxconn) reported that it signed a contract manufacturing agreement (CMA) with Zimeno Inc. (doing business as Monarch Tractor) to build next-generation agricultural equipment and battery packs at the Foxconn Ohio facility.

Full-rate production of Monarch Tractor’s MK-V Series is scheduled to begin in the first quarter of 2023 at the Foxconn Ohio facility, an approximately 6.2 million-square-foot campus of scalable production space. This will follow production of Monarch’s Founder Series in the fourth quarter of 2022 at Monarch Tractor’s Livermore, California, manufacturing facility, according to a release from Hon Hai Technology Group.

“Leveraging Foxconn’s manufacturing strengths, world-wide network of industry leaders and supply partners, and our new partnership with Monarch Tractor, Foxconn is positioned and eager to contribute to the ongoing and future success of Monarch Tractor, its products, and its customers,” said Young Liu, chairman of Hon Hai Technology Group, in the release. “This partnership reflects Foxconn’s growing center of gravity for autonomous electric vehicle production and the potential that can emerge from forward-thinking collaborations.”

Foxconn, reported to be the world’s largest electronics manufacturer, assumed manufacturing operations at its Ohio facility in May 2022, after completing an asset purchase agreement (APA) with Lordstown Motors Corporation. The agreement with Monarch Tractor, the first contract manufacturing engagement by Foxconn following the closing of the APA, is said to reflect Foxconn’s vision to expand its contract manufacturing in the electric vehicle (EV) market. The agreement also continues the transformation of Foxconn capabilities in the Mahoning Valley, the company said in the release.

“Creating the industry’s most advanced tractor demands a manufacturing partner with the experience to quickly scale and execute with precision,” said Praveen Penmetsa, co-founder and  CEO of Monarch Tractor, in the release. “Foxconn is an EMS (electronics manufacturing services) leader whose manufacturing and solutions are world-renowned. We are proud to partner with Foxconn and work together to transform the future of farming.”

Hon Hai has expanded its capabilities into the development of electric vehicles, digital health, and robotics, as well as three key technologies—new-generation communications technology, AI, and semiconductors—that are key to driving its long-term growth strategy. The company also said it is dedicated to championing environmental sustainability in the manufacturing process and serving as a best-practices model for global enterprises.

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