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E.U.: Commission approves e-mobility joint venture between Siemens and Austrian Verbund

 |  September 21, 2012

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. There are no overlaps between the activities of Verbund and Siemens for the provision of e-mobility services. The Commission verified that barriers to entry and expansion are relatively low, as inputs are readily available and investment costs for charging stations and other equipment are very moderate.

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