Monarch Tractor Announces Establishment of Monarch Tractor Europe N.V.

Official launch of new legal entity positions Monarch Tractor for sales in the European market.  

LIVERMORE, Calif. and ANTWERP, Belgium, Dec. 19, 2024 /PRNewswire/ -- Building on the successful introduction of its MK-V electric tractor and having established itself as the leading electric, autonomous, and data-driven off-road manufacturer in the specialty and compact tractor market, Monarch Tractor is pleased to announce the establishment of Monarch Tractor Europe, N.V.  

Poised for growth across Europe. 

Recognized by Forbes in 2023 as one of the top 25 U.S. startups it believes will achieve a $1 billion valuation, Monarch has continued expanding its U.S. sales and dealer network across the U.S., into Canada, and now Europe. In addition to late-stage beta testing fully autonomous operations across several ag markets, Monarch is developing more opportunities for OE licensing collaborations and cementing itself as an energy and data platform.  

"With Monarch's ongoing strategic growth journey, the expansion to Europe is a logical next step with planned local manufacturing, an R&D hub, a digital center of excellence, and its EU headquarters in Flanders, Belgium," says Monarch Tractor CEO and co-founder, Praveen Penmetsa.  

Monarch Tractor Europe, N.V. is based in Antwerp, Belgium and serves as the business entity for all European operations. The European team is headed by Stéphane Jacobs who, in the role of Managing Director of Europe, will oversee a leadership team responsible for developing and deploying European market entry, growth, and strategy.  

"This milestone reflects our long-term engagement to serve the European market with a portfolio of solutions fulfilling the requirements of European farmers," Jacobs says. "Enthusiastic feedback from visitors from our booth at EIMA [Bologna, Italy] and Vinitech-Sifel [Bordeaux, France] confirms that we are on a promising path."  

By the end of the 2024 growing season, Monarch's MK-Vs have amassed nearly 67,000 hours of usage and abated more than 2,000 tonnes of CO2e.  

About Monarch Tractor 

Monarch Tractor's MK-V is the world's first fully electric, driver-optional, smart tractor that combines electrification, automation, machine learning, and data analysis to enhance farmer's existing operations, cut overhead costs, reduce emissions and increase labor productivity and safety. Monarch Tractor is committed to elevating farming and land management practices to enable clean, efficient, and economically viable solutions for today and the generations to come. Operating in more than five continents, Monarch Tractor serves vineyards, orchards, blueberries, dairy, and land management sectors. With cutting-edge technology and a global presence, Monarch is delivering meaningful change for the future of farming. For more information on Monarch Tractor, visit www.monarchtractor.com.    

Monarch Tractor Media Contact: 

Pearl Driver, [email protected] 

SOURCE Monarch Tractor