PSA and Total establish a battery joint venture

On September 3, PSA Group and the energy company Total signed an agreement to establish a joint venture company ACC (Automotive Cells Company). ACC will focus on the production of batteries for European electric vehicles. The establishment of the company marks the birth of a major player in the European battery production field.
Yann Vincent was appointed as the CEO of the joint venture, and Ghislain Lescuyer was appointed as the chairman of the joint venture. Through this partnership, PSA and Total will have a place in the development and manufacturing of high-performance batteries for the automotive industry from 2023.
Total will contribute its expertise in R&D and industrialization, and PSA will contribute its experience in the automotive market and production. In order to develop new high-performance lithium-ion battery technology, the R&D center in Bordeaux, France and the Nersac test base have been launched. When the R&D phase is over, the two factories in Duvran, France and Kaiserslautern, Germany will officially start production of batteries.
The joint venture company aims to:
Respond to the challenges of energy transition, reduce the carbon footprint of automobiles in the entire value chain, and provide citizens with clean and affordable transportation;
To produce electric vehicle batteries with the highest technological level in terms of energy performance, autonomous driving, charging time and carbon footprint;
Increasing the production capacity of electric vehicle batteries is essential to meet the increasing demand for electric vehicles in the European market. By 2030, the demand for electric vehicle batteries in the European market will reach 400 GWh, which is equivalent to 15 times the current market demand;
To ensure the independence of the European battery manufacturing industry, the initial production capacity of the joint venture plant is 8 GWh, and the total production capacity of the two factories will reach 48 GWh by 2030.