EU gives green light to joint venture between Mitsubishi and Bosch for electric vehicle battery-related services
The European Commission has given the green light to a significant joint venture between Japanese automotive giant Mitsubishi and German technology company Bosch. The collaboration, focusing on electric vehicle (EV) battery-related services, is expected to contribute significantly to the EV sector without posing competition concerns within the European Economic Area (EEA).
The joint venture aims to accelerate the growth of the EV sector and support decarbonization efforts, aligning with EU climate goals. One of the key objectives is to provide Battery-as-a-Service (BaaS) solutions, offering consultancy and enablement services to various stakeholders, including leasing providers, battery swapping operators, fleet managers, energy storage operators, and insurers.
The European Commission's swift approval is seen as a reduction in regulatory burden and a clear sign of support for the electric vehicle sector. The Commission's review concluded that the joint venture's activities have minimal market share in Europe and will not negatively impact competition.
The joint venture's initial focus includes advancing battery swapping services in China through collaboration with BPSE, with plans to broaden the impact on EV infrastructure and service innovation internationally. The venture will concentrate on the EU, China, Japan, the US, and India, with the aim of improving operational efficiency and battery lifecycle management.
In summary, the EU's approval of the Mitsubishi-Bosch joint venture facilitates innovation and deployment of EV battery services critical for sustainable transport, while ensuring a competitive EU market environment is maintained. The collaboration is a significant step towards supporting the pivotal EV sector, which is crucial for decarbonization efforts across Europe and globally.
References:
- Bosch and Mitsubishi form joint venture to accelerate battery-as-a-service
- Mitsubishi and Bosch to form joint venture for battery-related services
- European Commission approves Mitsubishi-Bosch joint venture for electric vehicle battery services
- EU approves Mitsubishi-Bosch joint venture for electric vehicle battery services
- Mitsubishi-Bosch joint venture for battery-related services receives EU approval
The joint venture between Mitsubishi and Bosch, focusing primarily on the electric vehicle sector, aims to leverage environmental-science advancements to develop Battery-as-a-Service (BaaS) solutions. By combining their respective expertise in science and technology, this collaboration seeks to revolutionize the EV industry and contribute to global decarbonization efforts.
