Representation of a mobile battery pilot plant in Nersac, France, which is being built through Automotive Cells Corporation, a joint allocation of PSA and Total.
PARIS – The PSA Group and French Power Total have signed an agreement to create a joint venture that will build battery cells at sites in France and Germany.
The two corporations have been executing the allocation since last year and announced plans to form a joint venture in January.PSA said Thursday that Yann Vincent, head of the modeler’s commercial chain and operations, will be the executive director of the battery alliance, which will be called Automotive Cells Company or ACC.
Ghislain Lescuyer, president of Total’s battery subsidiary, Saft, will hold the same position at THE CCA.
PSA is working to create a vertically oriented source chain for electric car associations.The transmissions will be built with Belgium’s Punch Powertrain and electric motors built in alliance with Japan’s Nidec.
CEO Carlos Tavares said the chain of origin of electric cars can result in 10% load savings, significant power with electric cars expected to produce declining margins than internal combustion cars in the coming years.
The battery joint venture “gives PSA Group a competitive advantage in the context of expansion in electric vehicle sales,” Tavares said on a Thursday.
Most electric cars sold in Europe use battery cells built through Asian corporations such as LG Chem and CATL, they come from factories in China, South Korea and Japan, or from European plants in the case of LG.But other participants, adding several startups, are about to join the market until 2030, as stricter emissions regulations drive demand for electric cars.
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