The European Commission approved the addition of Seres Group as a third equal shareholder in Ionchi, a Chinese EV charging network.
The European Commission approved Mercedes-Benz China, BMW Brilliance Automotive, and Seres Group taking joint control of Ionchi, a Beijing-based EV charging venture. Each company will hold a 33.3% stake in the joint venture, which operates high-power charging infrastructure in China using 100% renewable energy.
Ionchi, established in 2024, previously operated under joint control of Mercedes and BMW. The deal was cleared under the EU Merger Regulation’s simplified procedure, with regulators citing no competition concerns in the European Economic Area.
The venture will continue providing charging services to all eligible vehicles while offering exclusive experiences to BMW, Mercedes-Benz, and Seres’ AITO brand customers. Ionchi plans to deploy over 7,000 ultra-fast charging piles across China.