The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Aktiebolaget Volvo (‘Volvo’) of Sweden, Traton SE and Daimler Truck AG , both of Germany.
The joint venture will build and operate a publicly accessible charging network (‘CPO’) for battery electric heavy-duty trucks and coaches along major motorways and logistical points of interest in twelve European countries.
Volvo manufactures and sells trucks, buses, construction equipment and marine and industrial engines.
Traton is the holding company for the truck and bus business of the Volkswagen Group and operates through its units MAN, Scania, Navistar and Volkswagen Caminhões e Ônibus.
Daimler Truck manufactures and sells trucks and buses under the brands Mercedes-Benz, Fuso and Setra in Europe. Following its assessment, the Commission concluded that the proposed acquisition would raise no competition concerns.
The transaction was examined under the normal merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10534.