ACC raises €4.4bn for next European battery gigafactories
The Automotive Cells Company (ACC) has raised €4.4bn to build its next European battery gigafactories.
The deal is one of Europe’s largest-ever debt raisings in this industry to develop four plants addition to the gigafactory currently in operation in France at Billy-Berclau / Douvrin.
The additional plants will be in Germany and Italy to support ACC backers Stellantis and Mercedes-Benz as well as battery firm Saft, a subsidiary of TotalEnergies.
The funding will accelerate the development of ACC and strengthen its position as a key player in the battery industry building both cells and modules for electric vehicles.
In December 2023, ACC started production for Stellantis at Billy-Berclau Douvrin on schedule. Construction has started on the second plant on the French site, before launching the construction of the first block in Germany and the double block in Italy as well as R&D.
- Siemens digital twins for ACC battery gigafactories
- Verkor breaks ground on French battery gigafactory
- The changing landscape of battery gigafactories ..
The debt package is fully underwritten by a consortium of commercial banks, 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. With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project. 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 also increased their funding for ACC. 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%..
The R&D centre has been operational since 2020 in Bruges, near Bordeaux, and an Industrial Excellence Centre in Nersac, in the New Aquitaine region, is commercialising the developments.
ACC is first and foremost an industrial project. To supply our customer facing our Asian counterparts, we must be competitive and affordable,” said Philippe Biensan, CTO at ACC.
“It is also a technological project: our batteries must offer a long range, be safe and recharge quickly. R&D is key to help us achieve these objectives. Tomorrow’s technologies are developed but also future ones, such as solid state that represents the Holy Grail in terms of performance. A world of opportunities that we are harnessing today for future generations.”
NorthVolt is the most advanced with gigafactories in Sweden and Germany, while Verkor has broken ground on a plant in France and ItalVolt is working on a plant in Italy. Tata has announced plans for a gigafactory in the UK.
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
