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Automotive Cells Company (ACC), backed by Stellantis, Mercedes-Benz, and Saft (a TotalEnergies subsidiary), is making significant strides in becoming a leading force in Europe’s battery industry for electric vehicles (EVs). With a €4.4 billion fundraising, ACC aims to expand its production capacity across Europe, marking a significant milestone in the region’s push towards sustainable transportation.
On February 12, 2024, ACC announced the successful closure of this historic financing round, aimed at funding the construction of three gigafactories in France, Germany, and Italy, alongside extensive R&D efforts. This financial injection is anticipated to enhance ACC’s development, cementing its status as a pivotal player in the battery sector, dedicated to supplying high-performance, low-carbon batteries for electric vehicles.
See also: Mercedes−Benz to join ACC and build a European battery champion with global ambitions
The company initiated production at its Billy-Berclau Douvrin Gigafactory in France for Stellantis in December 2023, achieving a critical milestone on time. This accomplishment is a precursor to further industrial expansion designed to cater to growing market demands, including the commencement of additional production blocks in France, Germany, and Italy.
The funding, supported by a consortium of commercial banks including BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and backed by Bpifrance, Euler Hermes, and SACE, underscores the financial community’s confidence in ACC’s vision and potential.
Yann Vincent, ACC’s CEO, underscored the industry’s transition towards vehicle electrification, emphasizing the need for robust, dependable European manufacturers capable of delivering competitive, eco-friendly batteries. “With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project,” Vincent stated.
ACC’s shareholders, Stellantis, Mercedes-Benz, and Saft, are further demonstrating their commitment by participating in a capital increase, signifying a unified effort to secure ACC’s successful trajectory. By March 2024, this capital injection will adjust the shareholding distribution, with Stellantis holding 45%, Mercedes-Benz 30%, and Saft 25%.
This collective effort, including technological contributions from Saft and strategic partnerships with its main shareholders, positions ACC at the forefront of the electric vehicle revolution. BNP Paribas, serving as ACC’s exclusive financial adviser, praised the company’s ambition and expertise in advancing sustainable mobility.
Founded in 2020, ACC represents a pioneering venture in the EV battery sector, supported by key European nations and the EU. Its rapid growth and technological advancements are steering the automotive industry towards an electrified future, with over 1,500 employees from 40 different nationalities contributing to this vision.
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