https://sputnikglobe.com/20240124/eu-commission-okays-joint-venture-by-chinese-units-of-mercedes-benz-bmw-1116365291.html

EU Commission Okays Joint Venture by Chinese Units of Mercedes-Benz, BMW

EU Commission Okays Joint Venture by Chinese Units of Mercedes-Benz, BMW

Sputnik International

The European Commission said on Wednesday that it had approved the creation of a joint venture by two China-based units of German automakers Mercedes-Benz and BMW

2024-01-24T16:35+0000

2024-01-24T16:35+0000

2024-01-24T16:35+0000

economy

business

china

germany

mercedes-benz

bmw

european economic area (eea)

european union (eu)

https://cdn1.img.sputnikglobe.com/img/07e6/03/10/1093930864_0:0:3386:1906_1920x0_80_0_0_21dc6658e1c78546a6dd28871e3aea3f.jpg

"The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Mercedes-Benz Group China Ltd. (‘Mercedes-Benz') of China, controlled by Mercedes-Benz Group AG of Germany, and BMW Brilliance Automotive Ltd. (‘BMW') of China, controlled by Bayerische Motoren Werke AG of Germany," the press release read. The newly-created joint venture will be dealing mainly in public charging infrastructure networks for battery-powered cars in China, the commission said. Given its limited effect on the European Economic Area, the transaction will not pose any threat to fair competition, according to the press release.

https://sputnikglobe.com/20240116/high-tech-innovations-drive-chinas-auto-sector-advances-1116194980.html

china

germany

2024

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eu and china, european production in china, cars built in china, joint europe china businesses, joint eu china business ventures