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9/24, 10:57 AM (Source: TeleTrader)
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Daimler's Mercedes buys 33% of battery maker ACC

Mercedes-Benz announced on Friday its purchase of a 33% stake in battery cell producer Automatic Cells Company (ACC). Daimler's Mercedes will hold two out of six seats on the company's supervisory board, along with founding owners Stellantis and TotalEnergies.

A statement on Daimler's website declared that "joining ACC is the next step on the luxury car maker’s strategic course from 'Electric first' to 'Electric only'" in line with its ambitions of going fully electric by the end of the decade.

Daimler CEO Ola Kaellenius remarked that the partnership will "help ensure that Europe remains at the heart of the auto industry – even in an electric era."

Breaking the News / IB