Daimler Truck, the Traton Group and Volvo sign joint venture agreement for European electric charging network

Three leading commercial vehicle manufacturers Daimler Truck, Traton and Volvo have signed a binding agreement to create a joint venture to install and operate a high- performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe. The companies say they 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 establishment of the joint venture is subject to regulatory approvals. 

The planned venture, which would be equally owned by the three parties, is scheduled to start operations in 2022 following completion of regulatory approval processes. The companies are together committing to invest €500million, which is claimed 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.

Martin Daum, CEO Daimler Truck, says: “It is remarkable that three fierce competitors in the area of trucks and vehicle technology are taking action together to start establishing the needed charging infrastructure. Together with Volvo Group and the Traton Group, we want to send a clear signal to all relevant stakeholders to follow our lead and act now.” 

Christian Levin, CEO, Traton Group, which includes the MAN and Scania brands, adds: “A collaboration with strong competitors like Daimler Truck and Volvo Group might seem unusual. However, the topic is of crucial importance and this unique cooperation will make us faster and more successful in delivering the transformational action needed to tackle climate change.” 

Martin Lundstedt, president and CEO Volvo Group, says: “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.”