ELARIS AG: Kiesel Group's Investment Opens Up Strategic Business Potential

Bad Dürkheim, 24 September 2024 – ELARIS AG, a manufacturer of innovative electric vehicles, has secured an important investor: Kiesel Group. This investment is expected to provide strategic momentum for ELARIS in expanding its operations. Kiesel Invest, part of the Kiesel Group with over 45 locations in Europe, acquired an indirect stake in ELARIS within a significant single-digit percentage range.

The Kiesel Group, which sees a growing demand for electrification in its industrial sector, plans to develop joint products and technologies with ELARIS for construction and compact machines. This partnership is seen as vital for progressing the energy transition in the construction industry, responsible for a large share of global CO2 emissions.

Toni Kiesel, Managing Partner at Kiesel, emphasized the importance of continuous innovation in construction vehicle electrification for the energy transition. Meanwhile, Lars Stevenson, CEO of ELARIS, expressed enthusiasm about having Kiesel's expertise in construction machinery as part of their strategic partnership.