EV Battery Cell Joint Venture ACC Secures Funds for Three Gigafactories in Europe

ACC has announced it has secured funds for the construction of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, and for R&D.  ACC is a joint venture between Stellantis, Mercedes-Benz and TotalEnergies, through its subsidiary Saft,

The €4.4 billion secured in one of Europe’s largest-ever debt raisings in this sector.

ACC says the funding will accelerate its development, 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 in France.

Its second gigafactory is being built in Germany for opoening 2025, and its third will be constructed in Termoli in Italy.

Since launching in 2020, ACC has grown to more than 1,500 people.

It now employs over 40 different nationalities at its facilities in France, Germany, and Italy.

Yann Vincent, Chief Executive Officer of ACC, says: “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." 

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%.