Of the roughly 1600 organisations that AGCUMEN monitor globally regarding electrifying agricultural machinery (such as tractors), one of the core players is Solectrac.

“Ideanomics, the parent company of California-based electric tractor manufacturer Solectrac, has declared that Solectrac tractor sales are underperforming and need a major fix. Sales for electric farm equipment, which average USD 30,000 each, have totaled only about 15 per month while the goal was double that figure. Vendors also have gone unpaid lately. Moreover, the national distribution dealer network set up with Brim Tractor based in Lynden, Washington, two years ago does not exist anymore. On 27 March 2024 Ideanomics announced the new plan (for restructuring).”

It will be interesting to see how “pure plays”, i.e. companies that focus on electrification solely, especially startups, in light of Solectrac`s latest development, will do in the space going forward.

The below network graph provides an overview of core players in electrification of agricultural machinery (including construction machinery used in agriculture), and those that work on hybrid solutions. It is based on 9 year AGCUMEN data looking daily at signals from 190+ countries.