PSA and Saft JV to develop EV battery production
Total affiliate Saft and French car company PSA Group are to establish the Automotive Cell Company (ACC) joint venture to develop EV battery manufacturing in Europe. A €200 million ($220 million) pilot plant will be built at Saft’s Nersac plant near Angouleme, in the Nouvelle-Aquitaine region by mid-2021. Subject to a successful pilot project, a large-scale production plant with 8GWh of capacity, rising to 24GWh, will be built in the northern Hauts-de-France region. A similar size facility will be in Germany. ACC is targeting 48GWh capacity by 2030, with investment expected to reach €5 billion. The project is in line to receive nearly €1.3 billion in public funding through the EU's Important Projects of Common European Interest (IPCEI).The two companies will be equal partners in the JV for the pilot project although Saft's share will reduce to 33% during the commercial production phase.
