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<blockquote data-quote="Weather Man" data-source="post: 16484139" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Total, Peugeot to create European battery manufacturing JV</strong></span></p><p>Sep. 3, 2020 5:31 PM ET|About: <a href="https://seekingalpha.com/symbol/TOT" target="_blank">TOTAL SE (TOT)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-carl-surran" target="_blank">Carl Surran</a>, SA News Editor </p><p></p><p></p><p>French energy firm Total (NYSE:<a href="https://seekingalpha.com/symbol/TOT" target="_blank">TOT</a>) and French automaker Groupe PSA agree to <a href="https://seekingalpha.com/pr/17994847-groupe-psa-and-total-create-automotive-cells-company-joint-venture-dedicated-to-manufacture" target="_blank">set up a joint venture</a> to develop and manufacture batteries in Europe for the automotive industry starting in 2023.</p><p></p><p>The companies say the joint venture, first unveiled in January, will mobilize an investment exceeding €5B ($5.93B) and has support of €1.3B from French and German public authorities.</p><p></p><p>Yann Vincent is named CEO and Ghislain Lescuyer is appointed Chairman of the venture, named Automotive Cells Company.</p><p></p><p>Groupe PSA has five car brands: Peugeot, Citroën, DS, Opel and Vauxhall.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16484139, member: 137766"] [size=6][b]Total, Peugeot to create European battery manufacturing JV[/b][/size] Sep. 3, 2020 5:31 PM ET|About: [URL='https://seekingalpha.com/symbol/TOT']TOTAL SE (TOT)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-carl-surran']Carl Surran[/URL], SA News Editor French energy firm Total (NYSE:[URL='https://seekingalpha.com/symbol/TOT']TOT[/URL]) and French automaker Groupe PSA agree to [URL='https://seekingalpha.com/pr/17994847-groupe-psa-and-total-create-automotive-cells-company-joint-venture-dedicated-to-manufacture']set up a joint venture[/URL] to develop and manufacture batteries in Europe for the automotive industry starting in 2023. The companies say the joint venture, first unveiled in January, will mobilize an investment exceeding €5B ($5.93B) and has support of €1.3B from French and German public authorities. Yann Vincent is named CEO and Ghislain Lescuyer is appointed Chairman of the venture, named Automotive Cells Company. Groupe PSA has five car brands: Peugeot, Citroën, DS, Opel and Vauxhall. [/QUOTE]
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