On May 11, the European Commission announced that it has approved, under the EU Merger Regulation, the establishment of a joint venture between Hon Hai Technology Group (Foxconn) and Mitsubishi Fuso Truck and Bus Corporation. Mitsubishi Fuso Truck and Bus Corporation is part of Germany's Daimler Truck Holding AG. The joint venture will primarily engage in the production and supply of heavy-duty and light-duty buses.