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John Deere Buying Majority Control Of Battery Company Kreisel Electric Inc.

Photo: John Deere Facebook

(Moline, IL) -- John Deere is buying majority control of an Austria-based battery company. Deere says it's entered an agreement to buy Kreisel Electric Inc. Kreisel develops electric battery modules and packs and has a patented battery charging infrastructure platform. Deere says acquiring the company will allow it to expand its electric vehicle portfolio. Deere expects the sale to close in 60 days. The financial details of the sale haven't been released.


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