Total-Saft & PSA: Europe’s fourth largest EV battery producer if €5bn mega-project executes

The battle for Europe’s 21st century automotive market is underway.

France’s leading oil producer, Total SA, is set to become Europe’s fourth largest lithium ion battery producer for electric vehicles (EV) after agreeing a multi-billion euro deal to make 48GWh of cells by 2030.

The €5bn mega-project, involves the construction of two 24GWh lithium ion battery megafactories, and is confirmation that Total doubling down in its 2015 acquisition of specialist battery maker, Saft, in this joint-venture with PSA Group creating the new company, Automotive Cell Company (ACC).

PSA is the world’s tenth largest . . .

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