Monarch Tractors wont be built by Foxconn after Ohio factory sale | TechCrunch
News Source : TechCrunch
News Summary
- Monarch CEO Praveen Penmetsa confirmed the news in a LinkedIn comment Tuesday.
- Foxconn built a few hundred tractors for Monarch at the plant, but the startup has struggled.
- SoftBank is expected to work with Foxconn to use the factory to make equipment for the Stargate AI project led by OpenAI and Oracle.Foxconn purchased the former General Motors factory from EV startup Lordstown Motors in 2022.
- The other three companies Foxconn wanted to build vehicles for have all filed for bankruptcy.
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 Penmetsa confirme [+1972 chars]
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