Funding for ACC’s Gigafactories Across Europe Totals €4.4 Billion

ACC has secured a €4.4 billion loan for the expansion of lithium-ion battery cell production in Europe, marking one of the largest debt financings in the industry and signaling strong confidence in the growing European battery manufacturing sector.

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ACC has successfully completed a €4.4 billion debt financing deal (approximately $4.7 billion), one of the largest in Europe for the EV industry, to fund the construction of three new Gigafactories in France, Germany, and Italy, as well as ramp up R&D efforts. The company began production at its first gigafactory in Billy-Berclau/Douvrin, France, in December 2023, marking a significant milestone by starting on schedule and highlighting its ability to meet growing demand.

The financing was made possible by a consortium of commercial banks, including BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, supported by Bpifrance, Euler Hermes, and SACE. ACC’s CEO, Yann Vincent, emphasized the company’s commitment to supporting the electrification of vehicles with high-volume, competitive, and low-carbon footprint batteries, attributing the financial community’s support as a vote of confidence in ACC’s future.

By the end of March 2024, Stellantis will own 45%, Mercedes-Benz 30%, and Saft (a subsidiary of TotalEnergies) 25% of ACC’s shares, demonstrating strong shareholder support and a shared commitment to ACC’s success. Saft, ACC’s technology partner and long-term shareholder, and Stellantis and Mercedes-Benz, its key customers and major shareholders, are actively involved in the company’s growth plan and capital structure changes to ensure its success. BNP Paribas provides exclusive financial advisory services to ACC, with the common goal of promoting sustainable mobility and complementing ACC’s competencies and goals to achieve it.

Stellantis, Mercedes-Benz, and TotalEnergies founded ACC through Saft in 2020. It has grown quickly, opening its first Gigafactory in less than 2.5 years and employing over 1,500 people in its operations in France, Germany, and Italy, representing more than 40 different nationalities. The European Union, France, Germany, Italy, and other key players support the effort, highlighting the strategic significance of ACC’s operations in the shift to sustainable mobility.

This announcement follows other significant investments in the battery manufacturing ecosystem, including a $5 billion green loan for Northvolt’s Gigafactory and battery recycling facility in Sweden. This underscores the growing momentum and financial backing behind Europe’s shift to electric and sustainable automotive technologies.

Source: Automotive Cells Company (ACC)

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