Vehicle Manufacturers sign joint venture agreement for European high-performance charging network
Three leading commercial vehicle manufacturers the TRATON GROUP, Daimler Truck, and Volvo Group have now signed a binding agreement to create a joint venture (JV) to install and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe. As previously communicated, the parties are committed to initiating and accelerating the necessary build-up of charging infrastructure for the increasing number of customers of electric vehicles in Europe and contribute to climate-neutral transportation in Europe by 2050. The JV creation is subject to regulatory approvals.
The planned JV — to be equally owned by the three parties — is scheduled to start operations in 2022 following completion of all regulatory approval processes. The parties are together committing to invest €500 million, which is assumed to be by far the largest charging infrastructure investment in the European heavy-duty truck industry to date. 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 number of charging points is with time intended to be increased significantly by seeking additional partners as well as public funding. The future JV is planned to operate under its own corporate identity and be based in Amsterdam, Netherlands. The future JV will be able to build on the broad experience and knowledge of its heavy-duty trucking founding partners.
Information Source: Read the article
Oil and gas, press , | Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar,Electric