ACC suspends European battery factory construction and considers switching to lithium iron phosphate batteries

French battery company ACC has suspended its electric vehicle battery factory construction project in Europe and is re-evaluating its future development direction. ACC plans to switch to lower-cost lithium iron phosphate batteries. ACC has planned a total of three battery factories in Europe, located in France, Germany and Italy. The French factory has been completed and put into production, and the other two factories are being promoted through financing. However, due to a significant increase in costs, the commissioning time of the Kaiserslautern factory in Germany has been postponed to 2026, and the preparation work for the Termoli factory in Italy has also been suspended. ACC said that it will adjust the investment speed according to market trends, respond flexibly, and re-plan at the end of 2024 or early 2025.