Mercedes-Benz has joined Stellantis and TotalEnergies as a major investor in new French battery cell manufacturer Automotive Cells Company (ACC) with an ambition to scale up development and production of next-generation high-performance battery cells and modules.
Through the agreement, the three partners each have a one third stake, providing ACC with an investment of more than seven billion euros in a combination of equity, debt and subsidies. The aim is to reach a battery cell manufacturing capacity of at least 120 Gigawatt hours in Europe by the end of the decade.
ACC’s R&D centre at Bordeaux in South West France is already operational and the pilot manufacturing site in nearby Nersac will start production at the end of this year.
Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG says, “Mercedes-Benz pursues a very ambitious transformation plan and this investment marks a strategic milestone on our path to CO2 neutrality. Together with ACC, we will develop and efficiently produce battery cells and modules in Europe – tailor-made to the specific Mercedes-Benz requirements.
He adds, “This new partnership allows us to secure supply, to take advantage of economies of scale, and to provide our customers with superior battery technology. On top of that we can help to ensure that Europe remains at the heart of the auto industry – even in an electric era. With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe’s industrial competitiveness in the design and manufacturing of battery cells.”
Yann Vincent, CEO of ACC, comments, “To have Mercedes-Benz join us as a new shareholder is a major milestone for ACC. Mercedes-Benz will bring a vote of confidence in our technology roadmap and product competitiveness that significantly strengthens ACC’s business potential and underpins our ambitious growth plans. This is our contribution to an electric and sustainable future.”