Daimler acquires a lithium battery company -Lithium - Ion Battery Equipment

Daimler acquires a lithium battery company -Lithium - Ion Battery Equipment

European car giant Daimler said on Friday (September 24) that it will acquire a 33% stake in the battery maker Automotive Cells Company (ACC), a joint venture between Stellantis and Total.

The move will expand the size of the battery maker by about 7 billion euros ($8.2 billion), with Daimler onboard as they pledge to boost battery production to at least 120GWh by 2030, close to the previous two. times. ACC has already held talks with French automaker Renault, and both sides are open to adding more partners.(Lithium - Ion Battery Equipment)

Under the agreement, Daimler said ACC will supply battery technology to Mercedes-Benz, part of Daimler AG, starting in 2025. Daimler will invest thousands or even hundreds of millions of euros in the joint venture in 2022, with the total investment expected to be less than 1 billion euros.

Daimler's move will accelerate the transition to electric vehicles, and the partnership with Stellantis will allow the company to ensure a sufficient supply of batteries to compete with other strong rivals in the field, TSLA and Volkswagen. In the European market, electric vehicles accounted for 17% of total vehicle sales in the first half of the year.

Daimler CEO Ola Kallenius said in the statement: "This investment is a strategic milestone on our path to carbon neutrality. The new partnership allows us to use mass production to secure battery supply and provide a safe and secure battery for our customers. Supply superior battery technology."

ACC, a joint venture between Stellantis and French energy giant Total last year, plans to build gigafactories in France and Germany. Jefferies analyst philippe Houchois commented that Mercedes' investment would help "get ACC off the ground" as a potential front-runner in the European battery race. "The cooperation between Germany and France has the potential to create a new battery champion in Europe," German Economy Minister Altmaier said in a separate statement.

ACC's current major competitor is Sweden's NorthvoltAB. Northvolt was co-founded in 2016 by former TSLA vice president of supply chain management peter Carlsson and another former executive, paolo Cerruti, whose clients include Volkswagen and BMW.



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