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Stellantis: EU clears JV with Hon Hai

( - The European Commission has announced that it has approved the creation of a joint venture between Stellantis and Hon Hai Precision Industry, a Taiwanese company that provides electronic manufacturing services for computers, communications and consumer electronics.

The joint venture will be headquartered in the Netherlands and will develop semiconductors for the automotive market.

The Commission concluded that the transaction would not give rise to any competition concerns as the joint venture is currently not active in the same markets or in markets that are vertically related to the markets in which Stellantis or Hon Hai are active.

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