GM and Deere & Co. agreed to form a joint venture.

The venture, which has yet to be named, will design, manufacture and distribute diesel engines worldwide. General Motors and Deere said in a joint statement that the new company will be headquartered in the Detroit area and that its senior management will be drawn from both companies. The Deere facilities to be used include diesel engine plants in Waterloo, Iowa, and Saran, France. GM’s portion will use a diesel engine plant in the Detroit suburb of Redford Township and the Romulus parts distribution and engineering center near Detroit.