Mercedes, BMW, Seres Win European Commission Nod for Joint Control of Beijing Ionchi

07:01 AM EDT, 08/13/2026 (MT Newswires) -- Mercedes-Benz Group (MBG.F), BMW (BMW.F) and Chinese automaker Seres Group Co. received approval from the European Commission for the joint control of Beijing Ionchi New Energy Technology Co. Beijing Ionchi is currently jointly controlled by German automakers Mercedes and BMW, according to a Thursday release. The commission said the deal does not raise competition concerns due to its limited impact in the European Economic Area.