The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Mercedes-Benz Group China Ltd. of China, controlled by Mercedes-Benz Group AG of Germany; and BMW Brilliance Automotive Ltd. of China, controlled by Bayerische Motoren Werke AG of Germany; the commission notified on its website on Jan. 24.
It said that the transaction relates primarily to the market for public charging infrastructure networks for battery-powered cars in China.
In its press note, the European Commission said that it has concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure, it added.
It can be recalled that in November 2023, BMW Brilliance Automotive and Mercedes-Benz Group China had reached an agreement to establish a 50/50 JV in China to operate a high-power charging network and to provide Chinese customers with premium charging services.
The JV aims to establish a network of at least 1,000 high-power charging stations with about 7,000 high-power charging piles by the end of 2026, adopting state-of-the-art charging technologies. The first stations are expected to open for business in 2024 in top new-energy vehicle (NEV) regions, with further stations to be installed across the world’s largest EV market, the two companies had said in 2023.
