Deere & Company has signed a definitive agreement to acquire majority ownership in Kreisel Electric Inc.

Kreisel is a battery technology provider based in Austria. The firm develop electric battery modules and packs, and has developed a charging infrastructure platform that utilises this patented battery technology.

John Deere sees demand growing for batteries as a sole or hybrid-propulsion system for vehicles.

The machinery manufacturer says products in its portfolio, such as compact utility tractors, small tractors, compact construction and road-building equipment, could rely solely on batteries as a primary power source.

Commitment to zero emissions

Deere has said it intends to continue to invest in and develop technologies to work towards a future with zero-emissions propulsion systems.

This majority investment in Kreisel Electric will allow Deere to vertically integrate vehicle and powertrain designs around high-density battery packs, while leveraging Kreisel’s charging technology to build out infrastructure.

Deere has said it intends to continue to invest in and develop technologies to work towards a future with zero emissions propulsion systems.

“Kreisel’s battery technology can be applied across the broad portfolio of Deere products and Kreisel’s in-market experience will benefit Deere as it ramps up its battery-electric vehicle portfolio.

“Deere will provide the expertise, global footprint and funding to enable Kreisel to continue its fast growth in core markets,” senior vice-president of John Deere Power Systems Pierre Guyot said.

Kreisel Electric will retain its employees, brand name and trademark

Kreisel Electric will retain its employees, brand name and trademark, and continue to operate from its current location in Austria. The company was founded by brothers Johann, Markus and Philipp Kreisel and has approximately 160 full-time employees.

“The Kreisel team looks forward to expanding our base business, leveraging the Deere channel to accelerate adoption of battery-electric vehicles and charging stations, and working with Deere’s vehicle design teams on product advancements,” said Markus Kreisel.