Automotive Cell Company (ACC)battery joint venture Stellantis, Mercedes and TotalEnergies completes negotiations to obtain financing 4.4 billion euros which will be used to advance growth plans.
According to Bloomberg, which reported the indiscretion, negotiations with a number of banks they will be in the final stages. Financiers will include BNP Paribas and Bpifrance. An announcement could come in the next few days, even if Bloomberg holds up his hands and cautions that there is no absolute certainty that the negotiations will end positively. In any case, the funding will be very important for ACC, as the company has said it plans to invest €7 billion in the early stages of development.
ACC already opened its first large-scale battery production plant in Douvrin, France, last May. The company is currently building a plant in Kaiserslautern in Germany and plans to create third site in Termoli, Italy.
Battery factories they are fundamental to Europe’s efforts to become as independent as possible from Asian suppliers and, in particular, from Chinese suppliers. The activities of the joint venture between Stellantis, Mercedes and TotalEnergies are therefore key to creating a European battery supply chain.
Returning to the activities of the Automotive Cells Company, it seems that Stellantis and Mercedes plan to gradually increase their assets, reducing the share of TotalEnergies (which is present through its subsidiary Saft). It remains only to wait for the announcement of the agreement to better understand its financial contours.
Source: HD Motori
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