Automotive Cells Company (ACC) has obtained a loan of 4.4 billion euros to bolster the construction of three gigafactories for lithium-ion battery cell production across Europe, along with investments in research and development. Shareholders Stellantis, Total, and Mercedes-Benz will also inject additional capital, leading to a shift in ownership structure.
According to ACC, the secured €4.4 billion loan represents one of Europe's largest-ever debt raisings in the industry, aimed at developing four production blocks in addition to the existing facility in Billy-Berclau/Douvrin, France. The company plans to establish a second block in Douvrin, and further blocks in Kaiserslautern, Germany, and Termoli, Italy.
By 2030, ACC aims for total battery cell capacities of at least 120 GWh, with the Termoli plant alone projected to reach a capacity of 40 GWh. The expansion efforts will see the French and German sites upgraded to 40 GWh each, in addition to the current production capacity of over 13 GWh per year in Douvrin.
The debt package, fully underwritten by a consortium of commercial banks and supported by governmental entities, will contribute to financing these capacities. Stellantis, Mercedes-Benz, and Total subsidiary Saft have also participated in a capital increase, leading to changes in ownership structure.
Upon completion of the capital injection, Stellantis will hold 45% of ACC's shares, Mercedes-Benz 30%, and Saft 25%. Both carmakers reaffirmed their commitment as leading shareholders and customers of ACC's battery modules. Saft will maintain its involvement as a long-term shareholder and provide technological expertise.
Yann Vincent, CEO of ACC, hailed the loan as evidence of confidence in the company's project, noting that future needs will be determined based on additional contracts. Established in 2020 by Total and Stellantis, with Mercedes joining later, ACC operates an R&D center in Bruges and an Industrial Excellence Center in Nersac, employing over 1,500 people across France, Germany, and Italy.