Monarch Tractor Faces Layoffs, Pivots to Software
Update: 2025-11-20
Description
Monarch Tractor, an autonomous electric tractor startup, faces potential layoffs and shutdown after raising $220 million. Despite shipping around 500 tractors, the company is pivoting towards software services and licensing technology. However, theyve lost their contract manufacturer and face a lawsuit alleging defective vehicles. The new business plan focuses on software as a service, but the transition puts the company at risk of closure.
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