About Automotive Cells Company (ACC) announces the closing of a 4.4 billion euros debt raising, increasing the funding for the construction of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, and for R&D.
This operation will accelerate the development of the company and strengthen its position as a key player in the battery industry to equip high-performance, low-carbon electric vehicles.
In December 2023, the firm started production for Stellantis at its Billy-Berclau Douvrin Gigafactory (France) on schedule, which is a remarkable achievement.
This success paves the way for further industrial developments to meet demand, marked by the start of construction of the second block on the French site, before launching the construction of the first block in Germany and the double block in Italy.
The debt package will contribute to finance these capacities and is fully underwritten by a consortium of commercial banks, BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and supported by Bpifrance, Euler Hermes, and SACE.
“The transition to the electrification of vehicles is still on the way. To meet this immense challenge, our customers must be able to rely on robust and reliable European players like ACC, capable of delivering high volumes of competitive batteries with a low CO2 footprint,” said Yann Vincent, Chief Executive Officer of ACC.
With this world-class financial community supporting us, we see clear evidence of the confidence that is placed in the ACC project. Beyond this operation, we will determine our needs as and when we conclude additional contracts,” he added.
Stellantis, Mercedes-Benz and Saft show their engagement by working together with ACC and participating in a capital increase to ensure its success.
By the end of March 2024 and with the next capital injection, Stellantis will own 45 per cent of ACC’s shares, Mercedes-Benz 30 per cent and Saft 25 per cent.
Stellantis and Mercedes-Benz confirm their commitment as leading shareholders and customers of ACC’s battery modules.
They have agreed to modify ACC’s capital shareholding and plan to progressively increase their equity stakes in ACC.
Saft, a wholly owned subsidiary of TotalEnergies, is committed to continuing to work with ACC, as a long-term shareholder and by bringing the technological know-how.
BNP Paribas acted as exclusive financial adviser to ACC, Séverine Mateo, head of the Low Carbon Transition Group, commented: “ACC and BNP Paribas share the same ambition, which is to accelerate the transition to a different and more sustainable mobility.”
“During our engagement alongside ACC, we have been impressed by the expertise and commitment of their teams to deliver on their ambition and are proud to be contributing to their success by advising them on their financing journey,” she added.
About Automotive Cells Company
Founded in 2020, ACC is a fast-growing high-tech company operating in the world of battery technology for electric vehicles, with its first Gigafactory inaugurated in Billy-Berclau/Douvrin (France) two and a half years after the company was founded.
The company is a joint venture between Stellantis, Mercedes-Benz and TotalEnergies, through its subsidiary Saft, behind of the technology used by ACC.
This unique initiative is supported by France, Germany, Italy, and the European Union.
With an R&D center operational since 2020 in Bruges, near Bordeaux, and a state-of-the-art Industrial Excellence Center in Nersac, in the New Aquitaine region, the firm is bringing the automotive industry into the electrified era.
Since launching, ACC has grown to more than 1,500 people and now employs over 40 different nationalities at its facilities in France, Germany, and Italy.