logo
  

Volvo Group, Daimler Truck, TRATON Group To Form JV For High-performance Charging Network In Europe

Commercial vehicle manufacturers Volvo Group (VOLVY.PK), Daimler Truck, and TRATON Group signed a binding agreement to create a joint venture for European high-performance charging network.

The companies would install and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe.

The planned JV would be equally owned by the three parties, but continue to be competitors in all other areas. The JV is scheduled to start operations in 2022 following completion of all regulatory approval processes.

The companies together would invest 500 million euros. The plan is to install and operate at least 1,700 high-performance green energy charging points on and close to highways as well as at logistic and destination points within five years of the establishment of the JV.

The future JV is planned to operate under its own corporate identity and be based in Amsterdam, Netherlands. It will be able to build on the broad experience and knowledge of its heavy-duty trucking founding partners.

As announced earlier, the companies would initiate and accelerate the necessary build-up of charging infrastructure for the increasing number of customers of electric vehicles in Europe. They would also contribute to climate-neutral transportation in Europe by 2050.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Retail giant Walmart is set to expand its drone delivery network to 34 sites across six states in the U.S. by the end the year through its partnership with drone delivery company DroneUp. The deliveries will reach about 4 million U.S. households in Arizona, Arkansas, Florida, Texas, Utah and Virginia. Blue Moose of Boulder LLC recalled one lot of 7 oz units of its "Spinach Artichoke Parmesan Dip" for potentially containing undeclared tree nut (Cashew) and soy allergens, the U.S. Food and Drug Administration or FDA said in a statement. The recall was initiated due to mislabeling issue where a small run Spinach Artichoke Cashew Dip was labeled as Spinach Artichoke Parmesan Dip. Samsung Electronics announced that Google Assistant will be available for Galaxy Watch4 starting Tuesday. The South Korean electronics major has entered into partnership with Google to build a unified Wear OS platform for a seamless connection across Android devices. Starting Tuesday, Google Assistant will be available in 10 markets.
Follow RTT