Automotive Cells Company (ACC) announced on Monday that it had incurred €4.4 billion in debt. With this money, ACC wants to develop its new battery production units in France, Germany and Italy.
Automotive Cells Company is now a major player in batteries in France. The joint venture opened its first electric car battery factory last year. It is located in Douvrin, in the Hauts-de-France region.
At the end of 2023, cell production began in Douvrin, for vehicles from the Stellantis group. According to a press release, this accomplishment “paves the way” for other industrial projects for ACC.
ACC’s three shareholders, Stellantis, Mercedes-Benz and Saft, have also made commitments. They will thus strengthen their participation in the battery joint venture. Stellantis will be the majority shareholder with 45% shares, ahead of Mercedes (30%) and Saft (25%).
ACC announced on February 12 that it had raised more than 4 billion euros in debt, which will allow it to build new battery production units in France, Germany and Italy.
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The debt raising that will help finance these capacities is fully guaranteed by a consortium of commercial banks. This includes BNP Paribas, Deutsche Bank, ING and Intesa Sanpaolo. Bpifrance, Euler Hermes and SACE also support this debt lifting.
“The transition to vehicle electrification is underway”declared Yann Vincent, general director of ACC. “To meet this immense challenge, our customers must be able to count on robust and reliable European players such as ACC, capable of supplying large volumes of batteries, competitive and with a low carbon footprint.”
“The support of this financial community is clear proof of the confidence placed in ACC. Beyond this operation, we will determine our needs as we enter into new contracts. We are resolutely looking to the future with a view to increasing our production capacities.”
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