New funds will accelerate ACC battery network buildout
ACC says it has closed a EUR 4.4 billion debt raising, increasing the funding for the construction of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, as well as R&D.
The company says that this operation will accelerate the development of ACC and strengthen its position as a player in the battery industry. In December 2023, ACC started production for Stellantis at its Billy-Berclau Douvrin Gigafactory in France on schedule.
This paved the way for further industrial developments to meet demand, marked by the start of construction of the second block on the French site, before launching the construction of the first block in Germany and the double block in Italy.
The debt package will contribute to financing these capacities and is fully underwritten by a consortium of commercial banks.
“The transition to the electrification of vehicles is still on the way. To meet this immense challenge, our customers must be able to rely on robust and reliable European players like ACC, capable of delivering high volumes of competitive batteries with a low CO2 footprint. With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project. Beyond this operation, we will determine our needs as and when we conclude additional contracts. We are resolutely looking to the future, with a view to achieving our objective of growing our production capacities,” said Yann Vincent, Chief Executive Officer of ACC.
Stellantis, Mercedes-Benz and Saft, the three shareholders of ACC, show their engagement by working together with ACC and participating in a capital increase. By the end of March 2024 and with the next capital injection, Stellantis will own 45% of ACC’s shares, Mercedes-Benz 30% and Saft 25%.
Stellantis and Mercedes-Benz confirm their commitment as shareholders and customers of ACC’s battery modules. They have agreed to modify ACC’s capital shareholding and plan to progressively increase their equity stakes in ACC.
