Posted by Dyllan Furness & filed under Newswire, The Tech.

Saft, an affiliate of French oil and gas company Total, and Opel, a subsidiary of French automaker Groupe PSA, are establishing a joint venture called the Automotive Cell Company (ACC), which will create EV batteries starting in 2023.

The project will begin with a phase of research and development, including construction of a €200-million (about $219 million) plant at Saft’s Nersac facility. The first phase will trigger the investment decision for a large-scale production plant (beginning at 8 GWh and increasing to 24 GWh) in the northern Hauts-de-France region. A second plant of equal capacity will follow in Germany.

The company aims to have a combined capacity of 48 GWh, producing one million batteries per year by 2030. Nearly €5 billion ($5.47 billion) will be needed to fund the entire program. The company expects to receive €1.3 billion ($1.4 billion) in public funding from the European Commission’s Important Projects of Common European Interest (IPCEI).

Carlos Tavares, Chairman of the Managing Board of Groupe PSA, said, “Our purpose is to offer citizens mobility options that are clean, safe, and affordable. I am convinced that this project, with our partner Total/Saft, will create a benchmark player in automotive battery cell development and production in Europe.” 

Source: Saft