Car majors partner with TotalEnergies in battery collaboration

A newly formed trio mean to take advantage of economies of scale to develop electric vehicle batteries.

Photo: Pascal Rossignol/Reuters/Ritzau Scanpix

Mercedes-Benz joins up with Stellantis, which is behind Peugeot, and oil and gas supermajor TotalEnergies to develop electric car batteries, reports Bloomberg News.

The collaboration, which amounts to more than EUR 7bn, will manifest as battery maker Automotive Cells Company, with each party holding a stake of 33 percent.

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