Daimler, which produces the eActros electric truck, is joining forces with Stellantis and TotalEnergies to manufacture batteries.
Mercedes-Benz (Daimler Group) announced on Friday that it would purchase a 33% stake in Automotive Cells Company (ACC), a joint venture between TotalEnergies and Stellantis to manufacture batteries.
According to the statement, Ola Källenius, the head of Daimler, said “the partnership provides delivery consistency and allows for economies of scale”. “Daimler will contribute its technology and production know-how” he added.
The investment’s financial details were not disclosed.
The entry of Mercedes-Benz into the capital “clearly strengthens the commercial potential of ACC and confirms our ambitious growth plans”, commented Yann Vincent, CEO of the company, evoking an “important step”, “demonstration of confidence in our technology”.
ACC’s production capacity is expected to reach 120 gigawatt-hours per year by the end of the decade for a total investment volume of “more than seven billion euros”.
Production will begin in 2023.
By 2030, the company plans to manufacture one million electric car batteries annually.
The first battery factory of the joint venture, near the Stellantis factory in Douvrin in Hauts-de-France, plans to start production in 2023 after the opening of a pilot line in Nersac (Nouvelle-Aquitaine) by the end of the year.
ACC plans to begin production at the Kaiserslautern plant operated by Opel, the German subsidiary of the Stellantis group, in 2025.
Daimler has promised that it will be ready to go all-electric by 2030 and will invest 40 billion euros over that decade.
Daimler, which is preparing a historic split with the listing of its truck division, plans to open eight electric cell factories worldwide, including four in Europe.