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How much does the EV tractor cost?

Author: May

Apr. 29, 2024

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First fully electric, autonomous tractor in the Midwest unveiled ...

The University of Missouri rolled out its first all-electric, autonomous tractor Tuesday, calling it a “revolutionary piece of technology” that could pioneer new agricultural practices and make farming more efficient and sustainable.

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The Monarch MK-V tractor, bought with grant funding from the U.S. Department of Agriculture, is the Midwest’s first fully autonomous tractor, according to Christopher Daubert, dean of the MU College of Agriculture, Food, and Natural Resources. The tractor will be used for research by CAFNR, the MU College of Engineering, and MU Extension.

The MK-V runs solely on electricity and is equipped with cameras and sensors that allow it to be driven remotely. Its artificial intelligence capabilities are designed to collect data and analyze crop health, allowing the machine to align with future agricultural innovation.

Kent Shannon, a CAFNR professor specializing in agricultural systems and technology, piloted the tractor for Tuesday’s demonstration. He said the MK-V was well-suited for smaller-scale farms, including his own.

“It provides some opportunities that a traditional tractor wouldn’t,” he said. “I can see me using this on a beef cattle farm at home.”

The tractor does come with a high price tag: A standard model starts at about $89,000, more than twice the price of a traditional tractor of the same size, Shannon said.

Even so, he emphasized that the total value of the tractor has yet to be fully understood, meaning that the price might actually be affordable given the advanced capabilities it offers.

“If I went to the local dealership, yeah, I’d find something a lot cheaper than this,” he said. “But if you think about agriculture as a whole, it’s not exorbitant.”

“You might even think it was more than $90,000 for a tractor like this,” he added. “You’ve got to think of all of the technologies on it — there’s no other tractor of this stature that has both electric and autonomy capability.”

Sazzad Rifat, a PhD student at MU studying biosystems engineering, said he looks forward to learning about the tractor’s autonomous driving features and its ability to maneuver around obstacles.

To better understand the MK-V’s technologies, university researchers are interested in exploring its ability to support farmers with disabilities.

Findings from this research, as well as information about the MK-V, will be shared with farmers through MU Extension’s AgrAbility program, which helps farmers with disabilities overcome challenges.

For Missouri’s small-scale farms, this tractor’s technological capability could be revolutionary, said Dan Downing, a water quality expert with MU Extension in a news release.

A more sophisticated hydraulic system and engine reduce emissions that may interfere with farm conditions, Downing said. The tractor also scores very well environmentally on air and water quality measurements.

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Because of the nascency of this new technology, no state subsidies are yet available to help farmers pay for it, according to Teng Lim, a professor at MU Extension. There is, however, a “good chance” of future state support, he said.

This story originally appeared in the Columbia Missourian. It can be republished in print or online. 

MK-V Electric Tractor Price Update

LIVERMORE, CA – December 16, 2022 – Monarch Tractor, maker of the MK-V, the world’s first 100% electric, driver-optional, and smart tractor, announced a price update is taking effect on the newly released MK-V tractor starting January 14, 2023. The MK-V will be priced at MSRP $88,998.00.  

An Appreciating Farm Asset

In addition to doing all the work of a diesel tractor of comparable size, the MK-V stacks autonomy, connectivity, and electrification for a tractor that supports growth in profitability and crops long after its purchase. As an EV tractor, farmers eliminate diesel expenses and reduce maintenance costs. The MK-V functions as a tractor and utility vehicle during operations, as well as a powerful electric generator in the field. Connectivity through the MK-V’s Wingspan Ag Intelligence (WingspanAI) technology improves data collection, visibility during operations, and streamlines reporting. Autonomous capabilities elevate labor, empowering a farm’s current workforce to work more efficiently and effectively.  

Ease of Adoption

The MK-V is ready for deployment in today’s fruit and vegetable farms and is compatible with many of the same implements a farmer would use with a diesel tractor. The MK-V is engineered to also accommodate the implements of the future making it an AgTech bridge between farms of today and tomorrow. This sophisticated, transformative technology is intuitive to use and requires one day of training to get up to speed with your current tractor operators. 

ROI

The MK-V electric tractor price update has been put into effect based on global inflationary pressure, rising commodity costs, and supply chain demands driving increased component pricing. All North American orders placed prior to this date will receive the MK-V at the price at reservation. Additionally, Monarch Tractor will honor its previous pricing of the MK-V for customers who reserve units prior to Jan 14, 2023. Farmers can calculate their potential ROI on their purchase of an MK-V. Financial incentives may be available for farmers to expedite payback on their purchase.   

Monarch is preparing to announce dealer networks and expanded delivery territories. Launched to the public in 2020, the MK-V combines electrification, automation, and data analysis to help farmers reduce their carbon footprint, improve field safety, streamline farming operations, and increase their bottom lines. At the new MSRP, customers will have the option of accessing Monarch’s WingspanAI digital solutions with an add-on package:  

  • Connect:

    ($199/month): Offering real-time alerts, data and reporting, live 360-degree video, custom map visualizations, driver assist mode (Row Follow), and operational insights through 4G LTE connectivity.  
  • Automate:

    ($699/month): Includes Monarch Connect plus the ability to schedule Autodrive operations of remote supervision of multiple tractors and is compliant with OSHA autonomy standards. 

     


About Monarch Tractor

Founded in 2018, Monarch Tractor utilizes 21st-century technology to empower farmers by enabling the profitable implementation of regenerative, sustainable, and organic practices. Monarch’s Founder Series MK-V is the world’s first electric, driver-optional, smart tractor set to enhance a farmer’s existing operations, elevating farm practices to enable clean, efficient, and economically viable solutions for today’s farmers and the generations of farmers to come. With advanced, innovative technology, global reach, and an experienced team, Monarch is delivering positive, meaningful change for the future of farming. 

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