New venture dedicated to battery development
Groupe PSA is setting up a new joint venture with Total to focus on the development and manufacture of lithium-ion batteries – and reduce dependency on Chinese manufacturers.
The new company, ACC, will be led by chief executive Yann Vincent and chairman Ghislain Lescuyer.
Total/Saft will contribute its expertise in R&D and industrialisation, and Groupe PSA will share its knowledge of the automotive market and its experience in production.
The purpose of ACC is to produce batteries for electric vehicles that will be at the highest technological level in terms of energy performance, autonomy, recharging time and carbon footprint; develop production capacity; and ensure industrial independence in Europe.
Lescuyer said: “ACC is the result of a vision and a shared desire between industrial companies and European and national authorities to build the European battery leader. In Europe, we have the essential skills to develop the best technologies and differentiate ourselves from Asian competitors. ACC will thus promote the transition to an efficient, safe and sustainable electric mobility.”
