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French battery maker ACC welcomes EU auto sector support but fears it's too late

The article from Reuters discusses the French battery maker ACC's perspective on the European Union's support for the automotive sector. ACC, a joint venture between Stellantis, Mercedes-Benz, and TotalEnergies, has welcomed the EU's efforts to bolster the electric vehicle (EV) battery industry, particularly through the European Commission's Green Deal Industrial Plan. However, ACC's CEO, Yann Vincent, expressed concerns that these measures might be too late to effectively compete with the already established and heavily subsidized Chinese and U.S. competitors. Vincent highlighted the need for immediate action to ensure Europe can maintain its automotive industry's competitiveness, especially as the transition to electric vehicles accelerates. He pointed out that while the EU's initiatives are steps in the right direction, the timing and scale of support are critical, and there's a risk that European companies might lose ground in the global market if the support does not come swiftly enough.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/french-battery-maker-acc-welcomes-eu-auto-sector-support-fears-its-too-late-2025-03-06/ ]