The Mühlviertel-based company announced this in a broadcast today, Tuesday, in the evening. At first it was not known how high the takeover share was. John Deere wants to use the battery charging technology developed in the Mühlviertel for its products as a single or hybrid drive. These include lawn mowers, tractors and road construction equipment.
“Kreisel’s battery technology can be applied to the broad portfolio of Deere products, and Kreisel’s market experience will help Deere expand our battery-electric vehicle portfolio,” said Pierr Guyot, Vice President of John Deere Power Systems. According to its own information, the group has around 73,000 employees and recently had around 40 billion US dollars.
Kreisel Electric was founded in 2014 by the three brothers Johann, Markus and Philipp Kreisel and has specialized in the topics of e-mobility, battery systems, charging infrastructure and stationary storage systems. The company has grown rapidly in recent years and currently employs 160 people. In 2017, Arnold Schwarzenegger’s nephew, Patrick Knapp-Schwarzenegger, joined a US investor group with 15 percent. Kreisel will keep its brand name and employees after the takeover by John Deere and continue to operate from its current location in Rainbach im Mühlkreis, it is said.
Source: Nachrichten
