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March 23, 2022

Stellantis JV announces battery plant investment

ACC intends to build a third production facility by converting the Stellantis factory in Termoli, Italy.

By Graeme Roberts


Automotive Cells Company (ACC) plans to convert Stellantis’ existing Termoli plant in Italy to a new battery factory and has finalised an agreement to add Mercedes-Benz as a new, equal partner with TotalEnergies/Saft and the automaker.

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The partners have now also committed to increase the factory capacity to at least 120 gigawatt hours (GWh) by 2030 and to scale up development and production of battery cells and modules.

Carlos Tavares, Stellantis CEO, said in a statement: “Transforming the existing plant to help support a more sustainable future positions ACC as the European leader in battery manufacturing and reaffirms, thanks to the collaboration with the Ministry of Economic Development, Italy’s role in supporting Stellantis’ transformation to a sustainable mobility tech company.”

As part of its Dare Forward 2030 strategic plan, Stellantis previously announced plans to have global annual battery electric vehicle sales of 5m vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe and 50% passenger cars and light-duty trucks in the US.

It has also increased planned battery capacity by 140GWh to approximately 400GWh, to be supported by five gigafactories together with additional supply contracts.

Automotive Cells Company was founded by Stellantis and TotalEnergies/Saft in August 2020.

The deal is subject to customary closing conditions, including regulatory approvals.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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