Total: creates JV with PSA for batteries
(CercleFinance.com) - and Total announced late on Thursday that they have signed an agreement to create a joint venture called ACC.
Through this association, the partners intend to establish a global reference player in the development and manufacture of batteries for the automotive industry, achieving the highest level of performance by 2023.
"Total/Saft will contribute its expertise in R&D and industrialization, and Groupe PSA its knowledge of the automotive market and its experience in production," the companies said.
The entire project represents an investment of over 5 billion euros.
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Through this association, the partners intend to establish a global reference player in the development and manufacture of batteries for the automotive industry, achieving the highest level of performance by 2023.
"Total/Saft will contribute its expertise in R&D and industrialization, and Groupe PSA its knowledge of the automotive market and its experience in production," the companies said.
The entire project represents an investment of over 5 billion euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.