Press Release: Mergers – Commission clears acquisition over a new joint venture between SAIC Motor Corporation and Infineon Technologies

The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over the newly created Chinese joint venture SAIC Infineon Automotive Power Modules (Shanghai) Co, by Infineon Technologies AG (“Infineon”) of Germany and SAIC Motor Corporation Ltd (“SAIC”) of China. The joint venture will be established in China and produce and sell automotive frame-based insulated-gate bipolar transistor power modules (power semiconductors) for hybrid and fully electric vehicles in China. Infineon is active in the power semiconductor business. SAIC is a car producer. The Commission concluded that the proposed acquisition would raise no competition concerns given that the joint venture is not active in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8513.  (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

Source: European Commission

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