Press Release: Mergers: Commission approves e-mobility joint venture between Austrian electricity provider Verbund and German technology firm Siemens

The European Commission has cleared under the EU Merger Regulation the proposed creation of a joint venture between Verbund, the largest Austrian electricity provider, and Siemens of Germany, to provide e-mobility services across Austria. E-mobility services are needed for operating electric vehicles, including the provision of charging infrastructure, electricity from renewable sources and information services. The Commission's investigation confirmed that the operation did not give rise to any competition concerns, in particular because there is no overlap between the parties' activities.