While Sergio Marchionne, chairman of CNH Industrial, which makes Case IH and New Holland farm equipment, has changed his mind on the future of electric vehicles, other farm equipment manufacturers are pushing ahead with the development of battery powered equipment.
Off-highway engine maker Deutz has responded to the likely adoption of electric and hybrid drive systems for future agricultural vehicles and implements by acquiring a leading German manufacturer to secure expertise in this field.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.