Oil giant Total and car-maker PSA lay out $6bn plan for EV battery gigafactories

09 Sep, 2020

French energy giant Total has set the seal on a €5bn ($6bn) plan with automotive group PSA to build two lithium-ion (Li-ion) battery gigafactories that will be ramped up to manufacture enough units for 1 million electric vehicles (EVs) by the end of the decade. Working under the banner of the Automotive Cells Company (ACC), the partners aim produce EV batteries of the “highest technological level in terms of energy performance, autonomy, recharging time and carbon footprint” at two plants, in Douvrin, France, and Kaiserslautern, Germany, scaling up capacity from 8GWh in 2023 to 48GWh by 2030.

Total said that through its subsidiary Li-ion battery-maker Saft it would contribute expertise in R&D and industrialization to the joint venture – first announced in January – while PSA would provide knowledge of the automotive market and its experience in production. Carlos Tavares, chairman of Groupe PSA – which owns Peugeot, Opel, Citroën, DS Automobiles and Vauxhall – stated: “The construction of the European battery consortium that we wished for is now a reality. The European EV battery market is forecast to grow 15-fold through to 2030 to reach some 400GWh.

Source: rechargenews.com

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