AESC has raised €48 million for a battery cell plant in France
Japanese battery cell manufacturer AESC has received €48 million from the French government to build a plant near Renault's Doué facility. The European Commission approved the grant as it is in line with the EU's strategic objectives of job creation, regional development and environmental transformation.
Here's What We Know
The plant is due to come online in March 2025 and will initially produce lithium-ion cells for the electric Renault R5. Initial capacity is 9GWh per year and is set to grow to 24-30GWh by the 2030s.
The project will create 1,000 direct and indirect jobs and the total investment in the AESC site in France will be €1.3 billion. The European Investment Bank (EIB) has already committed €450 million in loans for its realisation in 2023.
Automotive Energy Supply Company (AESC) was founded in 2007 as a joint venture between three Japanese companies. Nissan was the largest shareholder with a 51 per cent stake. However, in 2018, Chinese company Envision acquired a controlling stake in AESC.
Source: Electrive
