PARIS -- PSA Group and the French energy company Total have signed an agreement to create a joint venture that will build battery cells at locations in France and Germany.
The two companies have been working on the project since last year and announced the intent to form a joint venture in January.
PSA said Thursday that Yann Vincent, formerly head of industrial operations and supply chain, would be the CEO of the battery alliance, which will be called Automotive Cells Company, or ACC.
Ghislain Lescuyer, the chairman of Total’s battery subsidiary Saft, will hold the same post at ACC.
PSA and Total also released a number of details about the planned factories, which will be operational in 2023 and supply PSA Group vehicles from Peugeot, Citroen, DS Automobiles and Opel/Vauxhall -- and potentially cars from Fiat Chrysler Automobiles, which is working toward a merger with PSA.
Batteries produced in the factories could eventual…