Automotive Cells Company (ACC), a Bruges-based leader in battery technology for electric vehicles, has announced a monumental €4.4B debt raising to fund the construction of three gigafactories for lithium-ion battery cell production across France, Germany, and Italy. This funding will also support the company’s research and development efforts.
The debt package, endorsed by a consortium of commercial banks including BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and supported by national agencies Bpifrance, Euler Hermes, and SACE, marks a significant step towards enhancing Europe’s capacity in sustainable battery production.
Strengthening European Battery Production
In December 2023, ACC initiated production for Stellantis at its Billy-Berclau Douvrin Gigafactory in France, aligning with its schedule. The capital increase, supported by the firm’s shareholders Stellantis, Mercedes-Benz, and Saft, underscores their commitment to ACC’s success and the broader goal of transitioning to vehicle electrification.
Shareholder Structure and Strategic Investments
By the end of March 2024, following the next capital injection, Stellantis will own 45% of the shares, Mercedes-Benz 30%, and Saft 25%. This strategic investment and shareholder restructuring demonstrate the automotive industry’s confidence in ACC’s mission to supply competitive batteries with a low CO2 footprint.
Revolutionizing Battery Technology
Founded in 2020 and backed by industry giants Saft-TotalEnergies, Stellantis (PSA-Opel), and Mercedes, ACC is poised to revolutionize the automotive industry with its innovative battery technology. The company aims to produce sustainable, high-capacity batteries that offer a cleaner alternative to current energy sources.
Fostering Sustainable Mobility
The R&D center in Bruges and its Industrial Excellence Center in Nersac are dedicated to developing technologies for the electrification of the automotive industry. With over 1,500 employees representing more than 40 nationalities across its facilities in France, Germany, and Italy, the french firm is at the forefront of driving sustainable mobility.
A Commitment to Low Carbon Transition
Séverine Mateo, head of the Low Carbon Transition Group, highlighted ACC and BNP Paribas’ shared ambition to accelerate the transition to sustainable mobility. The Battery manufacturer’s financing journey, supported by expertise and commitment, is set to contribute significantly to the company’s success and the broader goal of reducing greenhouse gas emissions.
With this substantial funding, the company is well-positioned to advance its gigafactory projects and play a crucial role in meeting the growing demand for electric vehicles, thereby supporting the transition to a more sustainable and electrified automotive landscape.