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Italy Cuts Funding for Stellantis, Mercedes EV Battery Plant
- Battery maker plans to resume talks with Italy next year
- ACC has paused work on planned factories in Italy, Germany
ACC had laid plans to build three battery factories in Europe.
Source: Automotive Cells Company SEThis article is for subscribers only.
The Italian government is cutting funds to a Stellantis NV and Mercedes-Benz Group AG electric-vehicle battery plant, a project that has faced delays due to a slowdown in EV demand in Europe.
Public funds originally allocated to Automotive Cells Company SE, whose shareholders include the two automakers, will be shifted to other green energy initiatives after ACC failed to provide a clear timetable for the plant’s development, Industry Minister Adolfo Urso said Tuesday.