Mercedes and Stellantis to build a third-party EV Battery factory in Italy and Deal worth $8.2billion on Wednesday report.
Stellaris NV European cat battery maker company and Mercedes-Benz AG, formerly knowns as Daimler AG is built third battery factory in Italy. the reason to boost the region production does not depend on Asian players.
According to the Wednesday report, the automotive cells company’s also planning to set up a factory in Termoli that will be the third venture site in Europe with a total capacity of at least 120gigawatt-hours by 2030.
Markus Schaefer said, Mercedes’ development head, “We believe in a local for local sourcing approach and will develop and produce battery cells and modules with ACC in Europe,”.
With Concern to this, Italian authorities also agreed to the investment, it said, without providing details of the level of subsidies according to Bloomberg. France and Germany will able to produce at least 40gigabytes hours by end of decades company said.
The government of France, Germany, and now Italy to push EV batteries without taking help of Asia that will create a new job in the European Union.