Daimler partners with Stellantis to build European gigafactories
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Daimler will partner with competitor Stellantis and energy company TotalEnergies to develop and produce battery cells for electric cars in Europe.
The German luxury automaker said on Friday it would take a 33% stake in Automotive Cells Company, a joint venture created by Stellantis and TotalEnergies last year, which plans to build giga factories in France and Germany .
ACC has already secured € 1.3 billion in financial support from the French and German governments. Daimler has said he will invest an additional “triple-digit million” next year in the project, on which he will hold two seats on the board.
Daimler’s additional funding over the next few years will not exceed € 1 billion, the automaker added, but said the entire project would require more than € 7 billion of investment to achieve “a capacity of at least 120 gigawatt hours in Europe “by the end. of the decade.
“This new partnership allows us to secure supply, take advantage of economies of scale and provide our customers with superior battery technology,” said Ola Kallenius, Managing Director of Daimler.
Mercedes-Benz, which is owned by Daimler, said this year it would be ready to phase out internal combustion engine models by the end of the decade, “where market conditions permit.”
The Stuttgart-based automaker has rolled out electric versions of its flagship S-Class and E-Class sedans in recent months, and plans to offer emission-free versions of the rest of its lineup. Smart, the brand that Daimler co-owns with Chinese company Geely, is already fully electric.
To produce its electric vehicles, Mercedes-Benz would need at least 200 GWh of battery capacity, the brand said in July when it announced it would build eight giga-factories around the world: one in the United States. , four in Europe and three in Asia.
The ACC announced last year that it would build giga-factories in Douvrin, France and Kaiserslautern, Germany, near the site occupied by the Stellantis Opel brand, to “ensure industrial independence in Europe” .
The plants will reach a cumulative capacity of 48 GWh each by 2030, enough to produce 1 million electric vehicles per year, the company said.
Daimler already buys batteries from third parties such as China’s CATL and owns a stake in Chinese battery cell maker Farasis, which aims to build a factory in Germany.
The German automaker has denied media reports that the first batteries made by Farasis – whose shares have lagged behind others in the industry this year – turned out to be below standard, adding that the battery maker “remains a key partner for Mercedes-Benz”.