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EU approves Mercedes, BMW and Seres joint control of Ionchi charging venture
The European Commission said the deal cleared under the EU Merger Regulation’s simplified review, and it will not raise competition concerns given its limited impact on the EEA.
The European Commission has approved Mercedes-Benz China, BMW Brilliance Automotive and Seres Group taking joint control of Beijing IONCHI New Energy Technology, known as Ionchi.
Ionchi, established in 2024, runs public high-power electric-vehicle charging infrastructure and related service networks in China, combining fast charging with station operation, maintenance, customer service and the use of 100% renewable energy, according to the approved transaction details.
After the clearance, Seres becomes a third joint owner of the venture, joining BMW and Mercedes-Benz with each company holding a 33.3% stake, and AITO, Seres’ premium brand, would contribute to development of the charging infrastructure.
The Commission said the approval does not raise competition concerns due to the transaction’s limited impact on the European Economic Area, and the report adds Ionchi plans to deploy more than 7,000 ultra-fast charging piles across over 40 cities by the end of 2027.