 "Mercedes-Benz EQE electric vehicle")
Daimler AG will team up with Stellantis NV and TotalEnergies SE in a European battery venture set to cost more than 7 billion euros ($8.2 billion) in total to secure supplies for electric Mercedes-Benz cars in its home region.
The world’s biggest luxury-car maker will take a 33% stake in battery manufacturer Automotive Cells Company that will be financed through equity, debt and subsidies to build capacity of at least 120 gigawatt hours in Europe by the end of the decade. ACC also previously held talks with Stellantis’s French rival Renault SA about a partnership.
Mercedes will invest roughly 500 million euros
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