Daimler Takes A Stake In European Battery Maker

Round and Round She Goes - Battery? Fuel Cell? Ethanol?, Methanol?, Hybrids, Flux Capacitors?, Solid State Batteries?, Bio-Diesel, CNG, Clean Flex Fuel, Battery Trade-outs? Who Knows!

Editor's Note: Could this purchase be a "cover your ass investment"?. Who really knows which fuel will win-out after the marketplace not politicians decide?

Daimler to take 33% stake in battery venture
ACC will begin supplying Daimler from mid-decade
Daimler to invest up to 1 billion euros
Kallenius: "Our focus is on Europe"

BERLIN, Sept 24 (Reuters) - Daimler's (DAIGn.DE) Mercedes-Benz said on Friday it will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), expanding its European sourcing of battery cells key to its EV ambitions and currently produced primarily in Asia.

ACC, founded in 2020 by France's Stellantis (STLA.MI) and TotalEnergies (TTEF.PA), will begin supplying Mercedes-Benz with batteries from its production locations in France and Germany from the middle of the decade.

"Our focus is on Europe," Daimler Chief Executive Ola Kallenius told a press conference. "That is where ACC wants to grow, expand, and develop technologies with us."

Daimler, which plans on making exclusively electric vehicles in 2030 if market conditions allow, will invest up to a billion euros ($1.2 billion) in the battery venture starting with a mid-three-digit-million cash investment next year, the company said.

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