Mercedes joins Stellantis and TotalEnergies
By Gary S. Vasilash
If nothing else, you’ve got to give General Motors credit for naming the jv company it is running with LG Chem for electric vehicle battery development “Ultium,” because it sounds like something from the Marvel Universe, which isn’t an entirely bad thing when it comes to attracting younger buyers for the EVs GM will have in dealerships.
Contrast that name with a Europe-based battery company, one that had been established by Stellantis and TotalEnergies (the company that used to be simply named “Total” before it recognized the need to expand its portfolio beyond petroleum) and has now been joined by Mercedes-Benz:
Automotive Cells Company.
Hope no one stayed up too late at night trying to come up with that.
ACC is also being supported by the French, German and European authorities because they don’t want Europe to be left behind when it comes to battery tech.
The company is still young, having been established in August 2020. With the addition of Mercedes, the investment is on the order of seven billion euros. Each company has a one-third equity stake.
By 2030 it may be making 120 GWh’s worth of batteries.
Given that both Stellantis and Mercedes have aggressive EV plans, they’re going to need capacity.