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Mercedes-Benz Plans $8.2 Billion European Battery Venture

  • Luxury-car maker buys 33% stake European cell venture
  • ACC is open for more partners to join battery consortium
Illustration of the planned Automotive Cells Company gigafactory in France.
Illustration of the planned Automotive Cells Company gigafactory in France.Source: Automotive Cells Company
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Daimler AG will team up with Stellantis NV and TotalEnergies SE to boost the scale of their European battery venture to more than 7 billion euros ($8.2 billion) and secure supplies for electric Mercedes-Benz cars.

The world’s biggest luxury-car maker will take a 33% stake in battery manufacturer Automotive Cells Company, whose projects will be financed through equity, debt and subsidies, Daimler said Friday. ACC aims for capacity of at least 120 gigawatt hours in Europe by the end of the decade, more than double the amount the two founding partners initially laid out.