EV battery maker Automotive Cells to finance its Europe expansion

Electric vehicles (EV) battery maker Automotive Cells Company is looking to finance the expansion of its operations inside Europe worth $4.74 billion.

This joint venture of Stellantis and Mercedes-Benz is in talks with potential options and confirmed that it will specify the terms of the financing “shortly”.

Bloomberg reported on this matter that Automotive Cells could fetch a debt worth 4.4 billion euros ($4.74 billion).

Automotive Cells Company (Credit – ACC)

The new plan for expansion aims at four new production sites in top European markets including one in Germany, two in Italy, and one in France. It already has an existing plant in France.

“ACC’s ambition to accelerate its growth and strengthen its position as a key European player in sustainable mobility,” said the company.

(source – Marketwatch)