Press release from the Competition Council regarding the economic concentration project concerning the creation of a joint venture by companies “Volkswagen Aktiengesellschaft” and “Rivian Automotive, Inc.”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.

Names of companies and groups concerned:

• Founder No.1: “Volkswagen Aktiengesellschaft”;
• Founder No.2: “Rivian Automotive, Inc.”.

Nature of the operation:

• Creation of a joint venture.

Economic sectors concerned:

• Automotive industry.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. February 10, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the creation of a joint venture by companies “Volkswagen Aktiengesellschaft” and “Rivian Automotive, Inc.”.

“Volkswagen Aktiengesellschaft” is a German company based in Wolfsburg, Germany, with global operations that develops, manufactures, markets, and sells a wide range of vehicles, including passenger cars, light commercial vehicles, trucks, buses, coaches, bus chassis, diesel engines, and motorcycles. The company’s activities also include the distribution of spare parts and accessories for its vehicles.

“Rivian Automotive, Inc.” is a company incorporated under the laws of the State of Delaware in the United States of America, listed on the Nasdaq stock exchange. It is an electric vehicle manufacturer that designs and produces electric vehicles and accessories. The company creates innovative and technologically advanced products for work and leisure, with the aim of accelerating the global transition to emission-free transportation and energy. Its vehicles are manufactured in the United States and sold directly to customers, both individual and commercial.

The joint venture to be created will serve as a specialized platform for licensing zonal E/E architecture technologies to third-party customers, enabling greater market penetration and fostering innovation in software-based electric vehicle architectures.

 

Done in Rabat on January 28, 2025.