Automotive Cells Company , a joint venture between Stellantis, Mercedes-Benz, and TotalEnergies, halted work on two electric vehicle battery gigafactories in Europe, citing a slowdown in EV sales growth. The European joint venture had planned three battery factories in the European Union with a total investment of roughly $7.6 billion by 2030: one in Kaiserslautern, Germany, one in Termoli, Italy, and one in Douvrin, France.
EV Sales In Q1 2024 Were Tesla Model Ys BMW's CFO Says 'Plateau' For Combustion Engines Is Here Plug-In Car Sales In Europe Increased 11% In April 2024 ACC Chief Executive Officer Yann Vincent said that demand for EVs has slowed in Europe, with growth expected only in mass market segments. As a result, the German battery gigafactory might end up making lithium iron phosphate cells, which are cheaper than nickel manganese cobalt batteries, but they’re also less energy-dense.