John Deere completes battery builder deal
By Mike Brezonick09 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.
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.
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