As an equal shareholder, Mercedes-benz will help ACC build a factory in Italy

Stellantis, Total Energies and Mercedes-Benz have hammered out a new shareholder agreement in which Mercedes becomes an equal shareholder in Automotive Cells Company (ACC), a manufacturer of Automotive batteries, with each taking a one-third stake.The new shareholder agreement is subject to customary closing conditions, including regulatory approvals.Second, ACC plans to expand its manufacturing footprint by building its third battery plant in Termoli, Italy.On 21 March, ACC signed a memorandum of understanding with the Italian authorities, formalising the willingness of ACC shareholders to invest in Italy and the Italian authorities’ support for this investment.ACC did not disclose details of the investment.But Carlos Tavares, Chief executive of Stellantis, revealed that the scale of investment in the plant could be similar to those in battery factory projects in France and Germany.The ACC battery plant project in France and Germany will cost about 2 billion euros.In addition, the three companies pledged to increase ACC’s battery capacity to at least 120 GWh by 2030, by which time ACC plants in France and Germany will each produce at least 40 GWh per year, up from the initial plan of 24 GWh.ACC’s updated capacity plan will drive investment of over 7 billion euros.ACC, founded by Stellantis and Total Energy and backed by French, German and European authorities, hopes to create a European manufacturer of automotive batteries.The entry of Mercedes-Benz proves ACC’s superiority.ACC’s goal is to develop and produce batteries and battery packs for use in electric vehicles with a focus on safety, performance and competitiveness, and to ensure the highest level of quality with the lowest carbon footprint.ACC supports Europe in addressing the challenges of the energy transition in mobility and will ensure the supply of batteries, a key component of the electric vehicle industry.ACC will combine the strengths of three companies: total Energy’s battery subsidiary Saft’s technical expertise in battery development; Stellantis’ innovative, clean, safe and economical mobility solutions; and Mercedes-Benz’s R&D expertise and support for the expansion of ACC’s production facilities.Source: Gasco

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