Monday, August 14, 2023

John Deere Electric Powertrain to Invest $69 Million for its North American Headquarters and New Battery Production Operations in Kernersville

Raleigh, N.C.
Aug 14, 2023

Deere & Company [NYSE: DE] and Kreisel Electric GMBH, an Austrian company, which John Deere acquired majority ownership of in 2022, will create 50 jobs in Forsyth County, Governor Roy Cooper announced today. John Deere Electric Powertrain LLC will invest $69.6 million to establish its North American headquarters and build a battery and charger manufacturing facility in the Town of Kernersville.

“We are excited to welcome John Deere’s newest venture to America’s best state for business,” said Governor Cooper. “North Carolina’s leadership in manufacturing, innovation and clean transportation is creating great jobs from global manufacturers like this. With our shared values on sustainability, we look forward to creating a cleaner future together."

At the new facility, John Deere will produce innovative Kreisel battery packs for high performance and large, off-highway equipment applications. The factory will also manufacture CHIMERO charger technology for e-mobility, stationary systems and Level 3 charging solutions.      This new venture will build a state-of-the-art facility with sustainable energy features in a 115,000-square foot space to expand the manufacturing of Kreisel batteries and chargers in the North American market.

“As the demand for electric solutions continues to increase, this strategic investment in growing our production capacity will help strengthen our position as an international battery technology leader. Within the evolving off-highway equipment market, we are prioritizing the development of a robust charging ecosystem and battery portfolio that can support and sustain the long-term adoption of electrification across a wide variety of applications,” said Pierre Guyot, Senior Vice President of John Deere Power Systems and Chairman of Kreisel Electric.

New positions being created by the company include assemblers, material handlers, packagers, and quality inspectors. These new jobs will have the potential to contribute an annual payroll impact of more than $3.3 million to the region.

“John Deere could have established this new company anywhere in the world, but they chose North Carolina,” said N.C. Commerce Secretary Machelle Baker Sanders. “As the company continues to address the evolving needs of the global community, they can rely on our commitment to further developing a diverse, well-trained advanced manufacturing workforce to support them.”

A performance-based grant of $100,000 from the One North Carolina Fund will help with John Deere Electric Powertrain’s location in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.

“John Deere has been a tremendous corporate citizen in Forsyth County,” said N.C. Senator Joyce Krawiec. “Their increased investment in Kernersville validates our 35-year partnership and is a great forecast for the bright future ahead.”

“This is outstanding news for our region,” said N.C. Representative Donny Lambeth. “We appreciate John Deere’s vote of confidence in our people for this new venture and the work of the economic developers and local and state officials that helped the company make their decision.”

In addition to the North Carolina Department of Commerce and Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, North Carolina Community College System, Forsyth Tech Community College, Forsyth County, Town of Kernersville, Greater Winston-Salem, Inc., Whitaker Park Development Authority, and Duke Energy.

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