Daimler AG will team up with Stellantis NV and TotalEnergies SE to boost the scale of their European battery venture to more than 7 billion euros ($8.2 billion) in a move to secure supplies for electric Mercedes-Benz cars.
The world’s biggest luxury-car maker will take a 33% stake in battery manufacturer Automotive Cells Co., whose projects will be financed through equity, debt and subsidies, Daimler said Sept. 24. ACC aims for capacity of at least 120 gigawatt hours in Europe by the end of the decade, more than double the amount laid out by the two founding partners.
