US EditionCaterpillar Acquires Self-Driving 'Tesla of Agriculture,' Stock up 30% This Year
5 Articles
5 Articles
Caterpillar acquires self-driving 'Tesla of agriculture,' stock up 30% this year
Caterpillar Inc. has acquired electric autonomous tractor startup, Monarch Tractor, according to Bloomberg News. A once-promising tech startup, Monarch was considered the "Tesla of agriculture" because of its electric, self-driving tractors. Founded in 2018 by a team that included Tesla alum Mark Schwager and winemaker Carlo Mondavi, Monarch was among several startups seeking to substitute fuel-intensive heavy machinery with electric alternativ…
Ag engineer watches Caterpillar–Monarch deal for AI innovations
An ag engineering professor says he’s watching how Caterpillar potentially integrates technology being acquired from Monarch tractors. Scott Shearer is the Department of Food, Agricultural and Biological Engineering chair at Ohio State University. “I’m really kind of curious as to if they were interested in the IP around the autonomy or whether there was much […] The post Ag engineer watches Caterpillar–Monarch deal for AI innovations appeared f…
Doubling Down on Autonomy, Caterpillar Acquires Self-Driving Electric Tractor Co. Monarch
Dallas Innovates, Every Day: Here's what's new + next in North Texas. In January, Irving-based Caterpillar (NYSE: CAT) made a splash at the annual CES conference in Las Vegas by announcing “a major leap forward” in its embrace of autonomous technology, planning a long lineup of “intelligent machines” that could transform construction worldwide—everything from excavators to loaders to dozers to haul trucks.…The post Doubling Down on Autonomy, Cat…
Exclusive: Monarch Tractor CEO—‘We should have pivoted harder and faster’
Monarch Tractor’s collapse reflects the limits of an ambitious full-stack hardware model in a changing economic climate—not a failure of the underlying technology, insists cofounder Praveen Penmetsa. While three dealers have filed lawsuits alleging the firm’s electric tractors are “defective” and winegrower Patrick O’Connor blasted the “failed” equipment in a viral video as Monarch laid off its remaining staff and shut up shop, Penmetsa insisted…
The autonomous agricultural vehicle industry has just seen a turning point. After several years marked by high ambitions and persistent difficulties, the startup Monarch Tractor has seen its course complete in an unexpected form. Its assets have been taken over by the construction equipment giant Caterpillar, thus sealing a turbulent trajectory. Behind the ... Read more The article Caterpillar puts an end to Monarch Tractor's agony with a strate…
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