Deere to Invest in Kreisel Electric's Battery Production

Sep 22, 2022

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Deere & Company announced its next steps in meeting the growing demand for batteries as a sole- or hybrid-propulsion system. In addition to the production facility in Austria, John Deere is making an immediate investment in two additional locations to increase the production capacity expansion of Kreisel Electric — the battery technology pioneer in which John Deere recently acquired majority ownership. The significant capital commitment will bring an increase of over 2 GWh to Kreisel battery production capacity, beginning with the opening of a new facility at the John Deere Saran factory — the primary manufacturing location for John Deere engines in the European Union. In parallel with this project, John Deere will also invest in battery assembly in the United States to support the growth of its customers and John Deere products.

By leveraging the established expertise at the Saran facility, Kreisel will have access to world-class supply chain management, manufacturing engineering, quality assurance, logistics coordination and cutting-edge automation solutions. The funds from the investment will primarily be deployed within the mobile commercial and industrial solutions as well as the charging infrastructure division of Kreisel.

In December 2021 when the acquisition of Kreisel was first announced, Senior Analyst with RW Baird Mircea (Mig) Dobre made the point in a note to investors that the fast-charging CHIMERO infrastructure could play a crucial role in Deere’s electric equipment offerings going forward.

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