France Hoping for More Cooperation with Korean EV Battery Makers

ACC COO Jean Baptiste Pernot at a conference in Seoul on Nov. 17

French Secretary of State for Digital Transition and Electronic Communications Cédric O joined a conference in Seoul on Nov. 17 and proposed a closer collaboration with South Korean EV battery manufacturers.

Earlier, French President Emmanuel Macron announced last month that France would invest 30 billion euros in future industries from 2022 to 2026. The industries include future mobility represented by electric vehicles.

At present, European automakers are highly reliant on EV batteries imported from South Korea, China and Japan. With the global EV market growing very fast, the likelihood of undersupply is increasing. Under the circumstances, France and other European countries are aiming to build their own supply chains by accelerating the growth of their EV battery sectors.

ACC is emerging in this situation. The joint venture in the EV battery industry was established last year by Total’s subsidiary Saft and Stellantis. Mercedes-Benz became the third-largest shareholder in the company in September this year.

ACC and other French EV battery companies are wishing to enhance their competitiveness by cooperating with South Korean companies. “We have technological know-how and we need excellent partners,” ACC said, adding, “South Korean companies can further expand their business in Europe by working with us.”