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.

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