John Deere acquires majority ownership in Kreisel Electric, Inc.
MOLINE, Ill. (KWQC) - Deere & Company has acquired majority ownership in Kreisel Electric Inc. Tuesday.
John Deere announced in a media release Tuesday the transaction is now complete, following regulatory approval.
It was announced in December 2021 that John Deere would take majority ownership.
Kreisel Electric Inc., is a leading pioneer in the development of immersion-cooled battery technology, John Deere said. The Austrian company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform (CHIMERO).
Kreisel Electric is based in Rainbach im Mühlkreis, Austria. The company was founded in 2014 and has approximately 180 full-time employees, John Deere said. The business will retain its brand name and trademark.
Copyright 2022 KWQC. All rights reserved.
