Stellantis and TotalEnergies have welcomed Mercedes-Benz as a new partner of Automotive Cells Company (ACC), with an equal 1/3 equity stake. The partners plan to increase ACC’s industrial capacity to at least 120 GWh by 2030.
Mercedes-Benz said that it will invest “a mid-three-digit-million euros” next year. In total, the investments are expected to remain below a billion Euros. The transaction is subject to customary closing conditions, including the agreement on definitive documentation and regulatory approvals.
Mercedes-Benz will take a strategic 33% equity stake in ACC. Following the investment, we will hold two out of six seats on ACC’s Supervisory Board alongside TotalEnergies and Stellantis as equal shareholders. Our goal is to continue to integrate the most advanced and sustainable battery cells in our EQ models. Therefore, we will provide our technological and production know-how to ACC. – Markus Schäfer, Member of the Board of Management of Daimler and Mercedes-Benz
ACC aims to produce battery cells via a carbon-efficient production process, and with over 95% recyclable components. And of course, the minerals need to be ethically sourced as well.