Brussels, 17 January 2023
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Stellantis N.V. of the Netherlands and Hon Hai Precision Industry Co., Ltd. (‘Hon Hai’) of Taiwan.
The joint venture will be headquartered in the Netherlands and will develop semiconductors for the automotive market. Stellantis is a global automotive group active in designing, engineering, manufacturing, distributing and selling automotive vehicles, components and production systems worldwide. Hon Hai provides electronic manufacturing services for computers, communications, and consumer electronic products.
The Commission concluded that the proposed acquisition would raise no competition concerns, because the joint venture is currently not active on the same markets, or on markets that are vertically related with the markets on which Stellantis or Hon Hai are active. The 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.10982.
Source – EU Commission