Sure, cars are great, but some of the biggest automotive moves seem to be happening in the agriculture industry. Just look at the latest news from Monarch Tractor: the largest fundraising ever in agricultural robotics. It’s all for the MK-V and its ecosystem.
Dear friends and fellow farmers, we have before us the MK-V, a fully electric, driverless smart tractor that aims to revolutionize the world of agriculture. The MK-V will be seen on countless farms across America as its sole purpose is to “Fight the Bottom Line Challenge.”
The story here has to do with the decline in American farm profitability over the past few years, and Monarch’s MK-V is meant to gradually address this decline. How? Think about it. First, it’s an electric vehicle, so it saves fuel. Second, it’s a driverless machine, so if you get all the software and hardware right, it reduces the cost of hired labor (if you even hire one).
These two factors, along with Monarch’s Wingspan Ag Intelligence platform, explain why Monarch has sold over 400 MK-V units and offset 937 tonnes of CO2 emissions across 42,000 hectares of land since 2022. A more direct case study conducted by Constellation Brands confirmed energy savings of over $16,000 over an eight-month period, so these are pretty solid figures for businesses to consider.
Photo: Monarch Tractor
The latest round of funding raised a whopping $133 million, bringing the total amount raised by Monarch since they began fundraising for this beautiful machine to over $220 million. All of this money will be used to bring more MK-V units to the agriculture industry, optimize the management platform the tractors use, and pay the brains and technology behind this magic.
Best of all, while you might think that such a move would increase the price of the vehicle, government subsidies provided by the USDA through EQIP (Environmental Quality Incentives Program) mean that farmers across the country can purchase the MK-V for less than 50% of the retail price. With a standard unit selling for $89,000, this magic price is less than $45,000. Let’s take a closer look at what the MK-V has to offer us.
First off, let’s take a closer look at the battery array inside the MK-V electric vehicle. Overall, the Monarch offers up to 14 hours of run time with up to 5.6 kW of power. Obviously this depends on load, terrain, wheels, soil composition, and countless other factors, and can last up to 6 hours before needing to pull over when the battery dies.
Photo: Monarch Tractor
Power for all this goes primarily to the 70hp motor and four-wheel drive. Some of the power from the battery is fed into a power socket mounted on the MK-V, allowing you to use the tools on site without having to carry a generator or other hardware.
Another key feature of the MK-V, as already noted, is the autonomous functionality that will definitely grab everyone’s attention. Autonomous tractors are nothing new, but we have never come across a machine sold at such a price before. Thanks to the level of automation in the MK-V, you no longer need to be on-site to make sure everything is running smoothly. You can just sit back in your office chair, look at the screen and know that your fun day is about to begin.
All of this is made possible by a myriad of hardware, including 360-degree cameras and sensors that manage the movement of the corn, wheat, grapes, berries, and other crops in the fields. As for how precise all of this is, sources say the MK-V can till to within 2cm of accuracy. It also ensures complete safety by shutting off the motor in case anyone or anything comes within a foot of the MK-V. All of this is just part of the magic hidden in this tractor, which also includes some industry firsts, but we wouldn’t be able to tell you all about this $220 million project any more.
The next feature I’ll be covering is the software that comes with the MK-V. The cabin also has a touchscreen for monitoring diagnostics and changing activities, but what I’m really excited about are the apps that Monarch has included.
Photo: Monarch Tractor
WingspanAI by Monarch gives you complete control over everything that happens on your MK-V fleet right from your PC, Mac, or smart device. Control your fleet, run diagnostic checks, run live feeds, track metrics, and plan your next actions.
It doesn’t get any easier than this, but be aware that this secret trick will cost you $700 per tractor per month. A less powerful package is $200 per tractor per month, but it doesn’t give you OSHA-compliant automated operation. Give it a try, and if you don’t like it, don’t buy the same package the next month.
With statistics like these, it’s no wonder Monarch has risen to stardom in the agricultural world. The MK-V promises a lot and delivers, and is a key reason why we’re seeing more and more of this little machine in fields across America.
Maybe this will be the boost our fields need to produce again. If not, at least farmers and owners will have less maintenance costs. This is a win for all Americans — more money in our pockets means more to spend.
