Caterpillar acquires autonomous electric tractor startup Monarch Tractor

Monarch Tractor faced challenges during its business expansion, leading to layoffs in recent months, and its technology has been acquired by "a major global equipment manufacturer." Before the acquisition, Monarch Tractor had raised a total of 251 million US dollars, with investors including Astanor Ventures, At One Ventures, and the associated fund HH-CTBC Partnership L.P. under Foxconn. (Reuters)