John Deere completes battery builder deal

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.