Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels,  01.09.2020  
C(2020)  6042 final  
PUBLIC VERSION 
To the notifying parties  
Subject : Case M.9572 – BMW / DAIMLER / FORD / PORSCHE / HYUNDAI / 
KIA / IONITY  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 7 August  2020, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Bayerische 
Motoren Werke AG (“BMW”, Germany), Daimler  AG (“Daimler”, Germany) , Ford 
Motor Company (“Ford”, USA), Dr. Ing. h.c. F. Porsche A ktiengesellschaft 
(“Porsche”, Germany)  and Hyundai Motor Company (“Hyundai”, South Korea)3 
acquire within the meaning of Article 3(1)(b) and Article 3(4) of the Merger 
Regulation joint control of IONITY Holding GmbH & Co. KG (“IONITY”, 
Germany), a full fun ction joint venture established in 2017 by BMW, Daimler, Ford 
and Porsche. The concentration is accomplished by way of purchase of shares.4 
2. The business activities of the undertakings concerned are:  
− for BMW: globally active in the development, producing and marketing of 
passenger cars and motorbikes. BMW and its affiliates also provide financial 
services for private and business customers,  
− for Daimler: globally active in the development, manufacturing and sale of 
passenger  cars and commercial vehicles and  the p rovision of automotive 
financial services, including financial, leasing, insurance and fleet 
management services,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( the ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Hyundai acquires joint control p artially through its solely  control led subsidiary  Kia Motor C orporation 
(South Korea).  
4  Publication in the Official Journal of the European Unio n No C 268, 14.8.2020,  p. 18. 

2 − for Ford: is globally active in the development, manufacturing and distribution 
of automotive passenger cars and commercial vehicles and  provision of related 
financial services and leasing options, 
− for Porsche: globally active in designing, manufacturing and distributing high-
performance sports cars, SUVs and sedans. Porsche is part of the Volkswagen 
Group. The activities  of Volkswagen Group include the design, manufacture, 
supply and distribution of passenger and light commercial vehicles, trucks, 
buses, motorbikes and spare parts as well as related financial, insurance,  
− for Hyundai: globally active in the manufacturing of motor vehicles. Hyundai 
also offers financial services th rough its subsidiar y Hyundai Capital Services 
Inc. Hyundai and Kia manufacture motor vehicles primarily in South Korea 
and distribute them globally , 
− for IONITY: active across Europe in installing, operating and maintaining a 
publicly accessible high- power charging infrastruc ture for battery -electric 
vehicles along motorways and trunk roads in Europe.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation and of 
paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.5 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission 
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
5  OJ C 366, 14.12.2013, p. 5.