Monarch Tractor's MK-V to be manufactured in Ohio by Foxconn in 2023

Foxconn is the world's largest contract electronics manufacturer and makes a range of products including the Apple iPhone.

In May the Taiwanese company, which trades as the Hon Hai Technology Group, bought Lordstown Motors Corporation's Ohio facility as part of its expansion into electric vehicles manufacturing.

Monarch's MK-V series tractors will be the first product Foxconn manufactures at the facility, with full-rate production slated to begin in the first quarter of 2023.

The run will follow the production of Monarch's founder series in the final quarter of this year at its own manufacturing facility in Livermore, California.

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Monarch Tractor co-founder and CEO Praveen Penmetsa said creating the industry's most advanced tractor demanded a manufacturing partner with the experience to quickly scale and execute with precision.

"Foxconn is an EMS leader whose manufacturing and solutions are world-renowned," Mr Penmetsa said.

"Production of our MK-V tractors at the Foxconn facility ensures that our tractors will continue to be built here in the USA by a seasoned team of experts with an unparalleled commitment to quality and care.

"We are very proud to partner with Foxconn on this journey and deliver our tractors globally to accelerate a sustainable farming future."

Just weeks after the manufacturing agreement was struck, the companies hosted a product reveal of the MK-V tractor to Foxconn Ohio employees.

The electric tractor ranges from 30 kilowatts to 53kw (40 horsepower to 70hp) and has a battery runtime of 10 hours.

Hon Hai Technology Group chairman Young Liu said Foxconn was positioned and eager to contribute to the ongoing and future success of Monarch Tractor, its products and its customers.

"This partnership reflects Foxconn's growing center of gravity for autonomous electric vehicle production and the potential that can emerge from forward-thinking collaborations," Mr Liu said.