Stellantis increases ACC shares

Batteriefertigung am Mercedes-Benz Standort Bibb County, Alabama: In der Batteriefabrik werden alle Batteriekomponenten zu einem Gesamtsystem verbunden. Es umfasst eine Vielzahl von Komponenten, darunter bis zu zwölf Zellmodule mit Pouch- oder Hardcase-Zellen und das sogenannte EE-Compartment zur intelligenten Integration der Leistungselektronik.
Batteriefertigung am Mercedes-Benz Standort Bibb County, Alabama: In der Batteriefabrik werden alle Batteriekomponenten zu einem Gesamtsystem verbunden. Es umfasst eine Vielzahl von Komponenten, darunter bis zu zwölf Zellmodule mit Pouch- oder Hardcase-Zellen und das sogenannte EE-Compartment zur intelligenten Integration der Leistungselektronik. Battery production at the Mercedes-Benz Bibb County plant, Alabama: At the battery factory all battery components are connected to form a complete system. It includes a variety of components including up to twelve cell modules with pouch or hardcase cells and the so-called EE compartment for the intelligent integration of the power electronics.

The loan – according to the statement “one of Europe’s largest borrowings in this industry” – is intended to finance four additional “production blocks”. ACC already operates such a “production block” in Billy-Berclau/Douvrin in France. A total of three battery factories are planned in France, Germany and Italy. A second block is to be built in Douvrin, a block is currently being planned at the Kaiserslautern site, while a double block is being started in Italy.

The “production block” in Douvrin is 60,000 square meters in size, a third of which is designed as a clean room. The production line there has a capacity of more than 13 GWh per year and is scheduled to be reached at the end of 2024. With a total of five of these blocks, ACC would have an annual capacity of 65 GWh. Further systems will have to be installed later, because ACC is expected to have a total production capacity of 120 GWh – with 40 GWh per location.

The debt package is intended to finance not only the new production capacities, but also the company’s development work. The 4.4 billion euros come from a consortium consisting of European commercial banks such as BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, as well as Bpifrance, Euler Hermes and SACE.

The shareholders also want to inject additional capital. This will take place in the form of a capital increase, which should take place by March 2024. The amount involved is not mentioned in the announcement, but the (planned) consequences are: This is also accompanied by a change in the ownership structure. While ACC is currently held by Stellantis, the Total subsidiary Saft and Mercedes-Benz with a third holding, Stellantis wants to increase its stake to 45 percent by the end of March 2024. Mercedes-Benz should then hold 30 percent and Saft the remaining 25 percent of the shares.

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Even though Mercedes-Benz is losing influence relative to Stellantis, both carmakers have officially “reaffirmed their commitment as leading shareholders and customers of ACC’s battery modules” and plan to “gradually increase their equity investments in ACC.” Saft, as the third shareholder, also “intends to continue to work with ACC as a long-term shareholder and by contributing technological know-how”.

“The transition to electrification of vehicles is still ongoing. To overcome this immense challenge, our customers must be able to rely on robust and reliable European players like ACC, capable of supplying large volumes of competitive batteries with a low carbon footprint. ACC is a leading player in the battery industry, and is one of the leading players in the industry,” says Yann Vincent, Chief Executive Officer of ACC. “For us, the support of this world-class financial community is a clear demonstration of the trust placed in the ACC project. Beyond this process, we will assess our needs as we enter into additional contracts. We look to the future with determination to achieve our goal of expanding our production capacity.”

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