Daimler is once again accustomed to Chrysler, or at least the American side of Stellantis, so they can work on battery development and production. Those who know will remember that Chrysler was given more than a bottle of liquor at a junior high school party. But its long history of partnership has also kept it in business and brought some of the better products.
Prior to the merger of Amero and France, which brought Stellantis, Fiat Chrysler Automobiles was an Italian-American company with facilities scattered throughout North America. Prior to that, it was known as DaimlerChrysler. The result is the LX platform, the Pentastar V6, and a variety of Jeep Wranglers. Now Chrysler’s marginalized German wife has appeared at the front door with a wad of cash and news that she will invest it in a new battery business.
Daimler has purchased a 33% stake in the Automotive Cells Company (AAC), which was founded by Stellantis and TotalEnergies and named without creativity, to keep its European parent company from being left behind in the electrical revolution. bottom.
“Mercedes-Benz is pursuing a highly ambitious transformation plan, and this investment marks a strategic milestone on the road to CO2 neutrality. In collaboration with ACC, tailored to specific Mercedes-Benz requirements. We will develop battery cells and modules in Europe and produce them efficiently, “explained Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG. “This new partnership will allow us to secure supply, leverage economies of scale and provide our customers with superior battery technology. In addition, Europe will remain the center of the automotive industry in the age of electricity. With Mercedes Benz as a new partner, ACC aims to more than double the capacity of its European sites to support the European industry. Competitiveness in battery cell design and manufacturing. “
The entire ACC project will require a combined equity, debt and subsidy investment of over € 7 billion to reach a capacity of at least 120 gigawatt hours in Europe by the end of the decade. Mercedes-Benz plans to invest a mid-three-digit amount of € 1 million next year. In total, the investment is expected to be less than 1 billion euros. Transactions must be subject to normal closing conditions, such as final document agreements and regulatory approvals.
German automakers want to expand the development and production of next-generation battery cells and modules to maintain their promise to become an all-electric company by 2030. However, the total battery production capacity had to be 200 gigawatt hours by that time, building at least eight facilities and forming numerous partnerships.
Following Daimler’s formal investment, the company will hold a 33% stake in ACC, giving it two of the six Audit & Supervisory Board seats, equating to Total and Stellantis. Hardware will begin to emerge within the next few years and is expected to be shared among the three companies. For now, Daimler provides “technical and production know-how” to facilitate development. However, more direct involvement is expected as automakers complete the construction of the drive system campus in 2023 and additional European facilities are considered later.
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Daimler back to bed in Chrysler for Battery Biz
Source link Daimler back to bed in Chrysler for Battery Biz