February 9, 2022
John Deere buys Kreisel Electric
John Deere has signed a definitive agreement to acquire majority ownership in Kreisel Electric, a battery technology provider based in Austria. Kreisel develops high-density, high-durability electric battery modules and packs. Kreisel also developed a charging infrastructure platform that utilizes its patented battery technology.
Since 2014, Kreisel has been focused on the development of immersion-cooled electric battery modules and packs for high-performance and off-highway applications. The company has a differentiated battery technology and battery-buffered charging infrastructure offering. They currently serve a global customer base across multiple end markets, including commercial vehicles, off-highway vehicles, marine, e-motorsports, and other high-performance applications.
“John Deere sees demand growing for batteries as a sole- or hybrid-propulsion system for off-highway vehicles,” a media release from the company says. “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.”