EU Approves Bosch and Mitsubishi Battery Service Joint Venture
The European Union (EU) competition authorities approved, on August 13 (local time), the establishment of an electric vehicle battery service joint venture by Germany's Bosch and Japan's Mitsubishi Heavy Industries.
According to the European Commission, the joint venture will be established in Germany and will be responsible for supporting electric vehicle battery lifecycle services (BaaS). Both companies plan to offer products and related services not only in the EU, but also in Japan, China, the United States, and India.
The Commission determined that the two companies have limited market shares, and therefore, there are no concerns about harming competition. The approval process was handled under the simplified merger review procedure.
Hot Picks Today
Even with High Oil Price Relief Payment, Additional 300,000 Won Per Person to Be Provided... Applications Open from the 18th in This Region
- "Invested 95% in Hynix and Reached 10 Billion Won"... Japanese Investor's Proof Post Goes Viral
- "Why Is the Korean Stock Market Surging?"... Even Italy Is Astonished by the KOSPI Rally
- "You Don't Need to Go to the Gym": The Best Exercises for Lowering Hypertension
- "That Thing Wakes Up Every Night" ... Suspicious Object Covers Rural Village
The Commission stated, "This is an example of granting rapid merger approval for cases that clearly do not harm competition in Europe and help reduce regulatory burdens for companies."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
