The European production of lithium-ion batteries gets 4.4 billion euros

Automotive Cells Company (ACC) has recently taken out a 4.4 billion euros loan to finance the construction of three gigafactories for lithium-ion batteries in France, Germany and Italy, where production and research and development are to take place.

Electrive writes that Stellantis, Mercedes-Benz and Total will also provide extra financing for the project, as the loan has been labeled as "one of Europe’s largest-ever debt raisings in this industry."

By 2030 ACC, a joint venture from Stellantis, Total and Mercedes-Benz, expects to have a total production capacity for lithium-ion batteries of 120GWh. The company targets an equal 40GWh capacity for all three facilities, located in Italy, Germany and France. For the French facility, which is set to be completed by the end of this year, production capacity is estimated at over 13GWh.

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ACC is a joint venture created by Stellantis and Total back in 2020, with Mercedes-Benz joining one year later and besides the factory, the company also operates an R&D center and a center of excellence in France.

Saft, a subsidiary of the same Mercedes-Benz, Total and Stellantis, participated in a capital increase of undisclosed value for the development of ACC's factories. From March onwards, Stellantis will own 45% of ACC's shares, while Mercedes-Benz and Saft will own 30% and 25% respectively.

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