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“We are focused on attracting high-tech, environmentally-friendly companies and welcoming Monarch Tractors to our State’, said Chief Minister Sri Revanth Reddy | (Photo:PTI)
Monarch Tractors, a US-based driver-optional electric tractor company, met with Telangana Chief Minister Revanth Reddy, and other senior government officials during their trip to the US aimed at bringing investments into Telangana, an per an official release.
According to the release, Monarch Tractors has had a research and development center in Hyderabad since 2023. The company discussed plans to expand that R & D center, creating more high-tech jobs in the region. Monarch team announced to set up an autonomous tractor testing facility in Hyderabad to complement the R & D work they do here.
The Telangana delegation also pitched to Monarch Tractors, to bring manufacturing operations to the state. “We were delighted to meet Chief Minister Reddy and other officials to discuss our commitment to innovation in Telangana,” said Praveen Penmetsa, CEO of Monarch Tractors.
“Our R & D center in Hyderabad has been instrumental to building our advanced driver-optional smart electric tractors. We see opportunity to expand our operations in Telangana, bringing more manufacturing and employment to the region,” he said.
In this regard, Monarch team handed over a letter of intent to explore setting up a manufacturing facility in Telangana.
Monarch Tractors is revolutionising farming with the world’s first fully autonomous, driver-optional, smart electric tractor. Their tractors leverage advanced technologies like electrification, automation, and AI to help address labor shortages while increasing productivity and sustainability in agriculture.
“We are focused on attracting high-tech, environmentally-friendly companies and welcoming Monarch Tractors to our State’, said Chief Minister Sri Revanth Reddy.
“We are positioning Telangana as a leader in autonomous and electric vehicle technology. Monarch Tractors is aligned with that vision, and we hope to see them grow their presence in our state.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 11 2024 | 8:31 AM IST
