France's Automotive Cell Company (ACC) is to take out a €4.4bn loan to build a trio of battery plants in Europe. The plants will be located in France, Germany and Italy. The company will also build R&D centres.
Both Stellantis, Mercedes-Benz and Saft hold stakes in ACC. Stellantis and Mercedes-Benz are currently increasing their stake in the company, which should be completed in March. Stellantis will then own 45% of the shares, Mercedes-Benz 30% and Saft the remaining 25%.
Six properties
Based in Bruges, France - not to be confused with Bruges, Belgium - ACC aims to accelerate the transition to sustainable means of transport by revolutionising battery technology. It focuses on the production and development of lithium-ion batteries for electric vehicles (EVs). By 2030, the company aims to produce more than 2 million lithium-ion batteries on an annual basis, with a total energy capacity of 120 GWh.
The company says it is betting on six features here:
- A high energy density
- A long life where by the battery survives the car
- Short charging times
- A safe and reliable operation
- Suitable for a wide temperature range
- Affordability
Social and societal impact
When sourcing raw materials for its batteries, social and societal impact plays an important role in addition to environmental impact. For instance, the company promises not to use raw materials from mines that cause environmental pollution or put pressure on local water supplies, for instance. However, consider also raw materials coming from conflict zones.
The French company was founded in 2020 and employs more than 1,500 people of 40 nationalities. ACC's battery production started in December for Stellantis. It does so at its Billy-Berclau Douvrin Gigafactory in France.
Loan supports further growth
The company will now take out a €4.4bn loan to achieve further growth. It is borrowing the amount from a consortium of commercial banks that includes BNP Paribas, Deutsche Bank, ING and Intesa Sanpaolo. Bpifrance, Euler Hermes and SACE are also involved.
The company plans to use the money to build three gigafactories for battery production. These include expanding the current plant in Billy-Berclau Douvrin, France, and realising gigafactories in Kaiserslautern, Germany, and Termoli, Italy.
Author: Wouter Hoeffnagel
Source photo: Pixabay / Paul Brennan
