Electric vehicle battery manufacturer Automotive Cells Company (ACC) has confirmed raising €4.4 billion. Accordingly, the company will use the fund to construct three gigafactories for lithium-ion battery cell production in Frane, Germany, and Italy. In addition, the company will also raise a research and development (R&D) hub.

This operation will accelerate the development of ACC 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 (France) on schedule, which is a remarkable achievement. This success paved the way for further industrial developments to meet demand. Particularly, with the start of construction of the second block on the French site, before launching the construction of the first block in Germany and the double block in Italy.

Growing Production Capacities

The debt package will contribute to financing these capacities, fully underwritten by a consortium of commercial banks. Namely, BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and supported by Bpifrance, Euler Hermes, and SACE.

“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. …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,” said Yann Vincent, Chief Executive Officer of ACC.

Stellantis, Mercedes-Benz and Saft, the three shareholders of ACC, show their engagement by working together with ACC. Moreover, by participating in a capital increase to ensure its success. 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%.

Stellantis and Mercedes-Benz confirm their commitment as leading shareholders and customers of ACC’s battery modules. They have agreed to modify ACC’s capital shareholding and plan to progressively increase their equity stakes in ACC. Saft, a wholly owned subsidiary of TotalEnergies, is committed to continuing to work with ACC, as a long-term shareholder and by bringing the technological know-how.