Another joint venture to local source critical components to sustain the EV revolution. The pandemic and Ukraine war has demonstrate the need to maintain multiple supply lines. This is a 21st century form of vertical integration to cope with potential disruptions that can come unexpectedly.
Mercedes-Benz, Stellantis and TotalEnergies/Saft signed a deal to become equal partners in Automotive Cells Company (ACC), completing a transaction announced in September 2021 (Link). The partners have committed to increase ACC’s industrial capacity to at least 120 Gigawatt hours (GWh) by 2030 and to scale up development and production of next-generation high-performance battery cells and modules.
As part of the Mercedes-Benz strategy to go all-electric, ACC will supply the world’s most valuable luxury automotive brand with high-performance battery technologies from mid of the decade.
“Our stake in ACC marks another important step on the way towards an all-electric product portfolio by the end of the decade. To reach this target, we need a total battery production capacity of more than 200 Gigawatt hours by 2030. This is why we are continuously expanding our own R&D and production activities, and teaming up with partners to speed up progress”, said Markus Schäfer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer responsible for Research & Development and Procurement.
“We believe in a local for local sourcing approach and will develop and produce battery cells and modules with ACC in Europe. With each partner contributing their particular strengths, we can create a strong European manufacturer of competitive, state-of-the-art battery cells and modules. With a convincing ecological footprint.”
As an equal shareholder, Mercedes-Benz will contribute its expertise and support the expansion of ACC’s production network based on the brand’s benchmark quality standards. With Saft, an affiliate of TotalEnergies, Mercedes-Benz has a partner with over 100 years of experience in the field of long-life batteries and battery systems for applications critical to safety, back-up power and electric and hybrid drives. Stellantis brings industrialisation expertise to the joint venture through its brand diversity, size and global footprint. Together with its partners, Mercedes-Benz customers can benefit from the joint venture’s unique combination of technological know-how, production experience and scale.e
With the investment, Mercedes-Benz is industrialising advanced and sustainable cell technologies in Europe. Mercedes-Benz is expanding its portfolio of partnerships to safeguard the degree of localisation in the procurement of battery cells and modules as a key technology for the age of electric mobility.
The new Shareholder Agreement is subject to customary closing conditions, including regulatory approvals.
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