Foxconn will no longer build electric tractors for California startup Monarch Tractor after the Taiwanese tech giant recently sold its Ohio factory to SoftBank.
Monarch CEO Praveen Penmesta confirmed the news in a LinkedIn comment Tuesday. He also said his company worked with Foxconn to “build up inventory” before the sale of the factory, noting his startup has “enough to meet customer demand for the next 12 months, along with ample spare parts.”
“In the coming weeks, we will be sharing more about our plans to introduce more Monarch-enabled products in the market through new manufacturing partnerships,” Penmesta wrote.
Following the sale, SoftBank is expected to work with Foxconn to use the factory to make equipment for the Stargate AI project led by OpenAI and Oracle.
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