Deere & Company (NYSE: DE) 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 (“Kreisel”) — 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.
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