Electronics Production |
EUR 437 million for battery cell production in southern Germany
German Federal Minister of Economics Peter Altmaier handed over a grant notification for a large battery cell factory to be built at the Opel site in Kaiserslautern.
The grant notification from the Federal Ministry of Economics has a total volume of 437 million euros (specifically 436.8 million euros) and is issued for the battery project 'Automotive Cell Company - ACC' (the joint venture of the same name of Stellantis, Opel Automobile GmbH and French battery manufacturer Saft. The state of Rhineland-Palatinate is initially contributing around EUR 51 million, which are included in the total of EUR 437 million. The project will create a battery cell factory in Kaiserslautern with initially 24 GWh production capacity and around 2,000 new jobs in production and development. The companies involved in the joint venture are investing over EUR 2 billion. This creates a long-term perspective for the transformation towards electromobility for the facility, which has so far focussed on the production of combustion engines and components. The ACC joint venture will also build a battery cell factory of the same size in Douvrin, northern France , which is being funded by the French government as part of the same 'Important Project of Common European Interest' (IPCEI).