Battery joint venture between Stellantis and Mercedes seeks funds for expansion in Europe


02/12/2024

According to US media, Automotive Cells Company SE (ACC), a joint venture between Stellantis and Mercedes to manufacture batteries for electric cars, is in discussions with several banks to get funding to increase manufacturing in Europe.



Ottaviani Serge
The financing's terms will be disclosed "in the near future," an ACC representative told the Dow Jones news agency.

According to earlier reports from Bloomberg, which cited sources, the finance might total up to 4.4 billion euros.

The business plans to construct four production facilities with the money it has been given: two in Italy and one each in Germany and France. The French factory, which started operations in May 2023, is also expected to have its capacity increased.

The joint venture's third participant is Saft, a subsidiary of France's TotalEnergies.

source: dowjones.com