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European auto battery maker secures €4.4 billion to build new factories
12 February 2024
Image: Reuters
European battery manufacturer ACC has secured €4.4 billion (US$4.7 billion) to build four new production lines across three ‘gigafactories’ on the continent.
The company, co-owned by Stellantis, Mercedes and TotalEnergies, will use the money towards the construction of four new production lines – a second in France, a first one in Kaiserslautern in Germany, and two in Termoli in Italy, according to Reuters.
ACC opened its first production unit producing lithium-ion batteries in Billy-Berclau in northern France last year.
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