CV giants team up for electric coach charging network
Daimler Truck, the TRATON GROUP and Volvo Group have signed a binding agreement to create a joint venture (JV) to install and operate a high-performance public charging network for battery electric coaches across Europe. The network will also be for use by heavy-duty long-haul trucks. 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 €500m in the charging infrastructure. 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 is intended to act as catalyst and enabler for realizing the European Union’s Green Deal for carbon-neutral freight transportation by 2050, both by providing the necessary infrastructure and targeting green energy at the charging points.
“Innovative partnerships like these will enable the much-needed change that will benefit our customers — and the entire industry” – Martin Lundstedt, President and CEO Volvo Group
Martin Lundstedt, President and CEO Volvo Group, said: “We are going from words to action, and this planned joint venture with Daimler Truck and the TRATON GROUP is an important step in shaping a world we want to live in. Innovative partnerships like these will enable the much-needed change that will benefit our customers — and the entire industry. This is both a historical milestone in the transformation towards fossil-free transport and a breakthrough that shows Volvo Group’s commitment to reaching net-zero greenhouse gas emissions by 2040 and a net-zero emissions rolling fleet by 2050 at the latest.”
Despite forming the JV, the three partners will continue to be competitors in all other areas.