Automotive Cells Company secures €4.4 million funding to build three gigafactories in Europe
According to ACC, "this operation will accelerate the development of ACC and strengthen its position as a key player in the battery industry to equip high-performance, low-carbon electric vehicles". The gigafactory are supposed to be located in France, Germany and Italy.
The Automotive Cells Company alliance, formed by Stellantis, Mercedes-Benz and TotalEnergies, has secured €4.4 million funding to build three gigafactories in Europe. The factories will be located in France, Germany and Italy.
According to ACC, “this operation will accelerate the development of ACC and strengthen its position as a key player in the battery industry to equip high-performance, low-carbon electric vehicles. In December 2023, ACC started production for Stellantis at its Billy-Berclau Douvrin Gigafactory (France) on schedule, which is a remarkable achievement. This success paves the way for further industrial developments to meet demand, marked by the start of construction of the second block on the French site, before launching the construction of the first block in Germany and the double block in Italy”.
Automotive Cells Company: the three shareholders
Stellantis, Mercedes-Benz and Saft, the three shareholders of ACC, the latter being a subsidiary of TotalEnergies, show their engagement by working together with ACC and participating in a capital increase to ensure its success. By the end of March 2024 and with the next capital injection, Stellantis will own 45% of ACC’s shares, Mercedes-Benz 30% and Saft 25%.
“The transition to the electrification of vehicles is still on the way. To meet this immense challenge, our customers must be able to rely on robust and reliable European players like ACC, capable of delivering high volumes of competitive batteries with a low CO2 footprint. With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project. Beyond this operation, we will determine our needs as and when we conclude additional contracts. We are resolutely looking to the future, with a view to achieving our objective of growing our production capacities,” said Yann Vincent, Chief Executive Officer of ACC.
