[DBMandrake]

PSA Group And Saft Announce Two EV Battery Gigafactories

French battery manufacturer Saft and the PSA Group officially announced its joint venture plan for the lithium-ion EV battery plants in Europe.

insideevs.com

French battery manufacturer Saft (part of Total since 2016) and the PSA Group (with its Opel brand) officially announced plans for two lithium-ion EV battery cell plants in Europe.

The French-German alliance intends to establish a joint venture named Automotive Cell Company (ACC), with a total output of 48 GWh annually by 2030 (not as high as earlier rumors were suggesting - 64 GWh), through a €5 billion investment, supported by nearly €1.3 billion in public funding from the European Union.