EU greenlights Elexent, GP Joule Connect JV deal

French car maker Renault's (EPA:RNO) charging subsidiary Elexent Holding SAS and German mobility solutions provider GP Joule Connect GmbH have received unconditional approval from the European Commission (EC) for their deal to form a German charging solutions joint venture.

The go-ahead was given on Friday after a simplified merger review, which has found out that the transaction does not give rise to competition concerns, given its very limited impact on the market, the EU regulator said in a statement.

The JV, to be named Elexent Dach GmbH, will provide electric vehicle charging services, including analysis, installation, maintenance and charging optimisation, as well as electric mobility consulting services. The partners plan to develop its activities also in Austria and possibly in Switzerland.

Details about the size of the stakes that the partners will own in the JV or financial terms have not been provided.

GP Joule Connect is jointly owned by German renewable energy solutions provider GP Joule GmbH and local Minol GmbH, which provides services such as metering, billing, Internet of Things (IoT), and e-mobility.

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