Stellantis, Total Energy (Total Energies) and Mercedes-Benz have hammered out a new shareholder agreement in which Mercedes-Benz becomes an equal shareholder in car battery maker Automotive Cells Company (ACC), each with a 1/3 stake. The new shareholder agreement is subject to the usual delivery conditions, including regulatory approval.
Second, ACC plans to build its third battery factory in Termoli, Italy, to expand its production footprint. On March 21, ACC signed a memorandum of understanding with the Italian authorities, formally confirming the willingness of ACC shareholders to invest in Italy and the Italian authorities' support for the investment.
ACC did not disclose details of the investment. But Tang Weishi (Carlos Tavares), chief executive of Stellantis, revealed that the scale of investment in the plant could be similar to that of battery plants in France and Germany. It is reported that the investment scale of the ACC battery plant project in France and Germany is about 2 billion euros.
In addition, the three companies have pledged to increase ACC's battery capacity to at least 120 GWh, by 2030, when ACC's French and German plants will produce at least 40 GWh, a year higher than the original plan of 24 GWh. ACC's updated capacity plan will drive investment of more than 7 billion euros.
ACC was founded by Stellantis and Total Energy with the support of French, German and European authorities to build an European car battery manufacturer. The addition of Mercedes-Benz proves the advantage of ACC. ACC's goal is to develop and produce batteries and battery packs for electric vehicles, focusing on safety, performance and competitiveness, and ensuring the highest level of quality and the lowest carbon footprint.
ACC supports Europe in addressing the challenges of energy transformation in mobile travel and will ensure the supply of batteries, key components of the electric vehicle industry.
ACC will combine the strengths of three companies: the technical expertise of (Saft), a battery subsidiary of Total Energy, in battery development; Stellantis's innovative, clean, safe and economical mobile travel solutions; and Mercedes-Benz's R & D expertise and support for the expansion of ACC production facilities.
