Published 02/20/2018 12:51:56CET
BRUSSELS, 20 Feb. (EUROPA PRESS) –
The European Commission gave the green light to the alliance between Repsol and Kia on Tuesday to create a joint venture to operate in the car sharing business, concluding that the operation will not have a negative impact on the European economic space.
The resulting company will be presented under the WiBLE brand and will operate in Madrid, according to the information sent to Brussels by the Spanish oil company and the South Korean manufacturer.
The community executive believes that the authorized operation “will not pose any competition problem” given the “very limited” size of the activity that the new company will fulfill.
The operation, which was communicated to Brussels on January 28, has been examined under the simplified procedure that applies to less problematic cases.
Kia Motors and Repsol reached an agreement for the start-up in Madrid, from the second half of the year, of a new shared mobility operator, called WiBLE. The objective of this initiative is to promote sustainable mobility in cities and their surroundings.
The two companies chose Madrid for the launch of this project in the European market, in line with Kia’s strategy to extend this service to other markets, which has been operating in Japan since 2017.