John Deere completes battery builder deal
09 February 2022
Deere & Co. announced it has completed its acquisition of the majority ownership of Kreisel Electric Inc., a battery technology provider based in Rainbach im Mühlkreis, Austria. No financial details were provided.
Deere has completed its purchase of the majority ownership of Kreisel Electric, a manufacturer of batteries and charging systems. (Photo: Kreisel)
Kreisel develops high-density, high-durability electric battery modules and packs for high performance and off-highway applications. The company has also developed a battery-buffered, high-powered charging infrastructure platform (CHIMERO).
The transaction was announced in December 2021 and is now complete, following regulatory approval.
Kreisel Electric was founded in 2014 and has approximately 180 full-time employees. The business will retain its brand name and trademark, Deere said.
POWER SOURCING GUIDE
The trusted reference and buyer’s guide for 83 years
The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.
Visit Now
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
