ACC Expands European Battery Production with Three New Gigafactories
Automotive Cells Company (ACC) is expanding its footprint in Europe. The joint venture, backed by Stellantis, Mercedes-Benz, TotalEnergies, and public bodies, plans to construct three gigafactories in France, Germany, and Italy. This €4.4 billion project aims to bolster Europe's lithium-ion battery cell production.
ACC has successfully raised debt from a consortium of commercial banks, with support from Bpifrance, Euler Hermes, and SACE. The funds will be used to build the gigafactories and invest in research and development. The company's first gigafactory in Billy-Berclau Douvrin, France, began production on schedule in December 2023.
ACC's expansion is a testament to the commitment of its shareholders. Stellantis, Mercedes-Benz, and Saft have shown their engagement by participating in a capital increase. By the end of March 2024, Stellantis will own 45% of ACC's shares, Mercedes-Benz 30%, and Saft 25%. This demonstrates their confidence in ACC's mission to drive Europe's transition to electric vehicles.
ACC's CEO, Yann Vincent, emphasizes the need for robust and reliable European players like ACC to support the transition to electric vehicles. With over 1,500 employees across its facilities in France, Germany, and Italy, representing over 40 nationalities, ACC is well-positioned to lead this charge. The construction of the three gigafactories is expected to further strengthen ACC's role in Europe's battery ecosystem.
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