Electric tractor manufacturer ceases operations; investors face millions in losses

14-4-2026

Monarch, the US manufacturer of self-driving electric tractors, is laying off almost all its staff, closing its research facility and selling off its assets. Flemish taxpayers and a number of wealthy Belgian families are at risk of suffering heavy financial losses, according to the Belgian newspaper De Tijd. In mid-2024, Monarch was valued at over 500 million dollars.

The company builds compact electric tractors capable of autonomously ploughing, mowing, spraying and detecting diseases, including a model for fruit cultivation. To finance its planned growth, the company raised a total of $240 million, partly from Belgian investors. The Flemish government also invested €40 million in Monarch.

However, sales figures have been disappointing and customers were dissatisfied with the tractors. At the end of last year, Monarch decided to transform itself from a manufacturer of self-driving electric tractors into a technology supplier for other companies. (Sources: De Tijd and AgriHolland)