Joint Venture for ‘smart’ branded electric cards approved
A joint venture between the German Daimler AG and Chinese Zheijang Geely Holding Group Co. Ltd has been approved by the Commission. The joint venture is for the development, manufacture and distribution of automotive products for ‘smart’ branded electric cars.
The Commission based its decision that there would be no competition concerns as a result of the proposed acquisition on the limited overlap between the activities of the company and the existence of other strong players in the market, and on Article 6(1)(b) of the Merger Regulation 139/2004.
Read the Commission’s press release of 11 December 2019 here.
Publication of the decision can be accessed in today’s Official Journal.