Mercedes-Benz, BMW, and Seres to Jointly Control Beijing IONCHI New Energy Technology
The European Commission has approved the joint control of Beijing IONCHI New Energy Technology by Mercedes-Benz China, BMW Brilliance Automotive, and Seres Group. The venture will now be equally owned with each company holding a 33.3% stake. Ionchi operates high-power public EV charging infrastructure in China using renewable energy sources. The approval followed the simplified merger review procedure under EU Merger Regulation due to its limited impact on competition within the European Economic Area. Previously jointly controlled by Mercedes and BMW, Seres now joins as a third shareholder with plans for AITO—Seres' premium brand—to contribute to Ionchi's infrastructure development. The venture aims to deploy over 7,000 ultra-fast charging stations across more than 40 cities in China by the end of 2027.
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Topics: automotive charging infrastructure electric vehicles joint ventures