CELEX: 32020M9572
Language: en
Date: 2020-09-01 00:00:00
Title: Commission Decision of 01/09/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9572 - BMW / DAIMLER / FORD / PORSCHE / HYUNDAI / KIA / IONITY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
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 Aktiengesellschaft
        (“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 function 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 provision 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 partially through its solely controlled subsidiary Kia Motor Corporation
        (South Korea).
4       Publication in the Official Journal of the European Union No C 268, 14.8.2020, p. 18.
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.
 ---pagebreak---        − 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 through its subsidiary 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 infrastructure 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 Agreement.
                                                   For the Commission
                                                   (Signed)
                                                   Olivier GUERSENT
                                                   Director-General
5  OJ C 366, 14.12.2013, p. 5.
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