Hon Hai expands its layout in the United States to produce the next generation of electric agricultural machinery and battery modules in the United States.

CTOnews.com August 10 news, according to Taiwan media reported that on August 9, Hon Hai announced that it signed a contract manufacturing agreement with Monarch Tractor to build the next generation of Monarch Tractor electric agricultural equipment and battery modules at its Ohio plant in the United States.

In May 2022, Hon Hai began manufacturing electric cars at local factories after completing the Ohio asset purchase agreement. The agreement with Monarch Tractor is Hon Hai's first manufacturing agreement after completing its acquisition of a plant in Ohio.

CTOnews.com learned that the Monarch Tractor MK-V series, an electric tractor, is expected to begin production at Hon Hai's Ohio plant in the first quarter of 2023. The Monarch Founder series is expected to be produced at the Livermore plant in Monarch, California, in the fourth quarter of 2022.

Financial data show that Hon Hai earned NT $475.1 billion (about 107.373 billion yuan) in July, down 9.71% from a month earlier and up 13.66% from a year earlier, a new high for the same period.