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

© AP Photo / Matthias SchraderEmployees work on the BMW luxury car's at the production line of the German car manufacturer's plant in Dingolfing near Munich, southern Germany, Wednesday, Dec. 19, 2012
Employees work on the BMW luxury car's at the production line of the German car manufacturer's plant in Dingolfing near Munich, southern Germany, Wednesday, Dec. 19, 2012 - Sputnik International, 1920, 24.01.2024
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MOSCOW (Sputnik) - 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.
"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.
A man talks on his phone near an electric car from Chinese automaker HiPhi at a showroom in Beijing, Thursday, April 13, 2023. Global and Chinese automakers plan to unveil more than a dozen new electric SUVs, sedans and muscle cars this week at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars and other technology. - Sputnik International, 1920, 16.01.2024
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Given its limited effect on the European Economic Area, the transaction will not pose any threat to fair competition, according to the press release.
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