Deere & Company has acquired majority ownership in Kreisel Electric Inc., a battery technology provider based in Rainbach im Mühlkreis, Austria. John Deere sees demand growing for batteries as a sole- or hybrid-propulsion system for off-highway vehicles. Products in Deere's portfolio such as turf equipment, compact utility tractors, small tractors, compact construction, and some road building equipment could rely solely on batteries as a primary power source. Deere intends to continue to invest in and develop technologies to innovate, deliver value to customers, and work towards a future with zero emissions propulsion systems.
This transaction was announced in December 2021 and is now complete, following regulatory approval.
Deere & Company is the leading manufacturer of agricultural machinery in the world.
