Business

3 European Factories will Receive Financing from Battery Maker ACC

The construction of three “gigafactories” in France, Germany, and Italy has reached a significant financial milestone, according to ACC, a European auto battery manufacturer jointly owned by Stellantis, Mercedes, and TotalEnergies. The announcement was made on Monday.

One of the largest debt fundraising operations ever undertaken in the European automotive sector, the bank financing worth 4.4 billion euros ($4.74 billion) represents a significant portion of the company’s estimated total needed investment, which is just over 7 billion euros, according to ACC, also known as Automotive Cells Company.

ACC’s managing director, Yann Vincent, stated, “This deal with the banks reflects the very high level of confidence of these lenders in the ACC project.”

ACC’s sole financial adviser was the French lender BNP Paribas. The financing agreements were reached with a group of banks that included the French state bank Bpifrance, the Italian export insurer SACE, BNP Paribas, Deutsche Bank, ING, and Intesa Sanpaolo.

Four new ACC production lines—two in Termoli, Italy, one in Kaiserslautern, Germany, and a second in France—will be built with the help of the funding.

They follow the opening of the company’s first lithium-ion battery production facility in Billy-Berclau, northern France, last year.

The funding, which complements previously committed or awarded public subsidies, will be enhanced by fresh cash infusions of an undisclosed sum from ACC’s three shareholders, the company announced.

As a result, at the end of March, Mercedes-Benz (MBGn.DE) will own 30% of ACC, Saft, which is owned by the massive oil company TotalEnergies (TTEF.PA), will own 25%, and Stellantis (STLAM.MI) will hold 45% of the company.

Raeesa Sayyad

Recent Posts

Swiss International University (SIU) Elevates Its Global Standing with Prestigious Accreditations and Global Partnerships

Swiss International University (SIU) is on track to be one of the world's most respected… Read More

5 hours ago

Upstox’s Milan Bavishi Shares Fintech Storytelling Secrets with Invertis University Students

In a session that left students buzzing with fresh ideas and practical insights, Invertis University… Read More

8 hours ago

Towards new trends, gathering new trends, and innovating: China Changan debuts at the 2025 Shanghai Auto Show

At the 21st Shanghai International Automobile Industry Exhibition, which is surging with the wave of… Read More

8 hours ago

House of Spells and Comic Con Liverpool Collaborate Again to Bring Wonder and Tourism to Merseyside

Liverpool, UK—House of Spells and Comic Con Liverpool are once again collaborating to bring the… Read More

1 day ago

From Small Town to Startup Success: The Story of Frontlines Edutech Founders

Introduction In India's booming EdTech space, there's one name that's making waves among Telugu students… Read More

1 day ago

Why Expert Opinion Matters for Strategy During Litigation

In litigation, often, the difference between winning and losing comes down to strategy. Although facts… Read More

1 day ago