Germany’s antitrust authority, the Bundeskartellamt, has approved the proposed joint venture between Volkswagen and Rivian Automotive. The approval came after the agency determined that there were no serious competition concerns associated with the merger. Andreas Mundt, the head of the Bundeskartellamt, stated that the joint venture does not pose any significant threat to competition in the market.
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The joint venture between Volkswagen and Rivian is expected to focus on the development and production of electric vehicles. The collaboration will leverage the expertise and resources of both companies, accelerating their efforts in the rapidly growing electric vehicle market. This move signifies a significant step forward for the partnership, paving the way for the development of new electric vehicle technologies and products.