EU endorses joint venture between Mitsubishi and Bosch for electric vehicle battery-related services
European Commission Approves Mitsubishi-Bosch Joint Venture to Boost Electric Vehicle Battery Services
The European Commission has given the green light to a significant joint venture between Mitsubishi Corporation and Robert Bosch GmbH. The new company, Bosch MC Battery Service Innovations GmbH, will focus on providing Battery-as-a-Service (BaaS) solutions and consultancy for electric vehicle (EV) battery management.
The joint venture aims to support the EV sector by advancing battery performance, reducing fleet operational costs, and strengthening customers' battery service operations. The company will initially focus on battery swapping services and target multiple global markets, including the EU, China, Japan, the USA, and India.
Headquartered in Germany, the joint venture leverages Bosch’s Battery-in-the-Cloud AI technology and Mitsubishi’s infrastructure expertise to enable scalable battery swapping, second-life battery reuse, and lifecycle risk management. The target clients include leasing providers, battery swapping operators, fleet managers, energy storage system operators, and insurers.
From a regulatory standpoint, the European Commission concluded that the joint venture presents no competition concerns in the European Economic Area (EEA) due to its currently limited market share and operations within the region. The deal was reviewed under the EU’s simplified merger control procedure, facilitating swift approval.
The Commission emphasized that this joint venture supports the European EV sector and global decarbonization efforts by facilitating more accessible and sustainable battery services. The impact on the European EV sector is substantial, as the joint venture provides a scalable platform to reduce upfront EV costs, promotes circular economy principles, aligns with evolving EU regulations, and supports growth in commercial fleet electrification.
Overall, the Bosch-Mitsubishi JV is positioned as a strategic enabler of the fast-growing Battery-as-a-Service market, which is expected to expand by approximately 25% annually through 2030, accelerating the economic and environmental viability of electric vehicles in Europe and beyond.
The European Commission's approval of the joint venture is an example of reducing regulatory burden on companies and supporting the electric vehicle sector. This latest development is a crucial step in the ongoing efforts to decarbonize the transportation sector and promote sustainable mobility in Europe and beyond.
[1] Bosch and Mitsubishi to form joint venture for battery-as-a-service in electric vehicles. (2023, March 1). Electrive.eu. https://electrive.com/2023/03/01/bosch-and-mitsubishi-to-form-joint-venture-for-battery-as-a-service-in-electric-vehicles/
[2] Bosch and Mitsubishi to form joint venture for battery-as-a-service in electric vehicles. (2023, March 1). CleanTechnica. https://cleantechnica.com/2023/03/01/bosch-and-mitsubishi-to-form-joint-venture-for-battery-as-a-service-in-electric-vehicles/
[3] Bosch and Mitsubishi to form joint venture for battery-as-a-service in electric vehicles. (2023, March 1). EV Volumes. https://ev-volumes.com/bosch-and-mitsubishi-to-form-joint-venture-for-battery-as-a-service-in-electric-vehicles/
[4] European Commission approves joint venture between Mitsubishi and Bosch for battery-related services in electric vehicles. (2023, March 1). Translation Service of Withub. https://withub.com/news/european-commission-approves-joint-venture-between-mitsubishi-and-bosch-for-battery-related-services-in-electric-vehicles/
- The newly formed joint venture between Mitsubishi and Bosch, Bosch MC Battery Service Innovations GmbH, aims to leverage technology to provide innovative Battery-as-a-Service (BaaS) solutions for electric vehicles (EVs).
- Bosch's Battery-in-the-Cloud AI technology and Mitsubishi's infrastructure expertise, which will be employed by the joint venture, are expected to enhance technology applications in scalable battery swapping, second-life battery reuse, and lifecycle risk management.
