Commission’s Decisions on mergers and acquisitions
Automotive Cells Company: joint venture approved
The Commission has authorised a new joint venture for the manufacture and supply of electric batteries, mainly for cars, to be created by PSA Group and Total Group (both French). The joint venture would be Automotive Cells Company, a joint enterprise fully controlled by PSA and through Total’s subsidiary. PSA is a car and car-parts manufacturer, and Total is active in the energy sector, its subsidiary specialised in the design, manufacture and marketing of electric batteries.
The Commission found that the limited presence of the companies on the relevant markets, and number of existing competitors on those markets, meant that no competition concerns arose.