Automotive Cells Company (ACC), a European joint venture supported by Stellantis, has decided to halt its plans to construct electric vehicle battery gigafactories in Italy and Germany. The company cited slower growth in electric vehicle demand as the primary reason for postponing these investments.
The decision reflects current market conditions that have impacted the pace of expansion in the EV battery sector. ACC will reassess its strategy as the market evolves.
**Why this matters**
Battery production capacity is critical to supporting the transition to electric vehicles in Europe. Delays in building new gigafactories may affect supply chains and slow the region’s progress toward EV adoption and emissions reduction targets.
Source: NewsData