HYDERABAD: Chief Minister A Revanth Reddy on Saturday met representatives of Monarch Tractors, a US-based driver-optional electric tractor company and discussed expansion plans of the firm in Telangana with them.
Monarch Tractors has had a research and development centre in Hyderabad since 2023. The company discussed plans to expand this R&D centre, creating more high-tech jobs in the region. Following the discussion, Monarch announced that it intends to set up an autonomous tractor testing facility in Hyderabad to complement the R&D work it does here.
The Telangana delegation also urged Monarch to bring its manufacturing operations to the state.
“We were delighted to meet Chief Minister Reddy and other officials to discuss our commitment to innovation in Telangana,” said Praveen Penmetsa, CEO of Monarch Tractors. “Our R&D centre in Hyderabad has been instrumental in building our advanced driver-optional smart electric tractors. We see an opportunity to expand our operations in Telangana, bringing more manufacturing and employment to the region,” he added.
The team from Monarch handed over a letter of intent to explore setting up a manufacturing unit in Telangana.
“We are focused on attracting high-tech, environmentally-friendly companies and welcoming Monarch Tractors to our state,” the CM said.
He added: “We are positioning Telangana as a leader in autonomous and electric vehicle technology. Monarch Tractors is aligned with that vision, and we hope to see them grow their presence in our state.”