Brussels, 16 January 2024
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Ford Motor Company (‘Ford’) of the US, Bayerische Motoren Werke Aktiengesellschaft (‘BMW’) of Germany and Honda Motor Co., Ltd. (‘Honda’) of Japan.
The transaction relates primarily to the provision of grid services to electric utility companies and system operators in the US and Canada.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11365.
Source – EU Commission