John Deere Acquire Speedboat Battery Company

In line with their intention to invest in and develop technologies ‘to innovate, deliver value to customers and work towards a future with zero-emission propulsion systems’, John Deere have purchased a majority stake in Kreisel Electric, the company building the electric speedboat battery for the RaceBirds in the upcoming E1 Series powerboat championship.

Pierre Guyot, Senior Vice-President, John Deere Power Systems, commented: ‘We will provide the expertise, global footprint and funding to help accelerate Kreisel’s growth in core markets. Their in-market experience will benefit us as we ramp up our battery electric vehicle portfolio and apply it across a broad portfolio of products.’

Kreisel joint MD Markus Kreisel said: ‘We look forward to expanding our base business, leveraging the John Deere channel to accelerate the adoption of battery electric vehicles and charging stations, and working with their vehicle design teams on product advancements.’ 

For more information: www.kreiselelectric.com/johndeere