Backed by its three major shareholders - Stellantis, Mercedes-Benz, and Saft (a subsidiary of TotalEnergies) - Automotive Cells Company (ACC) is poised to become a prominent European champion in the development and production of battery cells and modules for Electric Vehicles (EVs).
ACC has successfully secured €4.4 billion in debt financing, marking one of the largest debt raisings in Europe’s battery industry. This funding will facilitate the establishment of three gigafactories for lithium-ion battery cell production across France, Germany, and Italy, as well as support research and development initiatives.
The strategic investment underscores ACC’s commitment to advancing sustainable transportation solutions by equipping EVs with high-performance, low-carbon battery technologies. Notably, ACC commenced production for Stellantis at its Billy-Berclau Douvrin Gigafactory in France in December 2023, demonstrating operational efficiency and timely execution. This achievement has paved the way for further expansion, with plans underway for additional sites, including the construction of gigafactories in Germany and Italy.
The €4.4 billion debt package, fully underwritten by a consortium of commercial banks and supported by governmental agencies, reflects the confidence placed in ACC’s vision and capabilities. Yann Vincent, CEO of ACC, emphasised the importance of robust European players like ACC in meeting the electrification challenges faced by the automotive industry. Vincent expressed gratitude for the support from the financial community, affirming ACC’s commitment to scaling production capacities to meet growing demand.
ACC’s key shareholders - Stellantis, Mercedes-Benz, and Saft - reaffirmed their dedication to the company’s success by participating in a capital increase. As part of this commitment, Stellantis will hold 45% of ACC’s shares, Mercedes-Benz 30%, and Saft 25% by the end of March 2024. Stellantis and Mercedes-Benz have also signaled their intention to increase their equity stakes in ACC progressively, underscoring their confidence in the company’s future prospects.
