The Volvo Group, Daimler Truck, and the Traton Group, on July 8 completed the final step in forming the previously announced joint venture for charging infrastructure in Europe. The JV will provide charging stations for all battery-electric heavy-duty vehicle fleet operators.
Anja van Niersen as the venture’s new CEO, expects to have a significant role in supporting the European Union’s Green Deal for carbon-neutral freight transportation by 2050.
The JV plans to install and operate about 1,700 high-performance green energy charge points on, and close to, highways as well as at logistics hubs across Europe. The parties are committing 500 million euro (Rs 4,123 crore) charging infrastructure investment in the European heavy-duty truck industry.
The partners intend to take a role as a charge point operator (CPO) in the value chain by installing and managing charging stations for heavy-duty trucks and coaches. It will be a self-standing legal entity, operating under its own corporate identity and based in Amsterdam, Netherlands.
The charging network initiated by the three parties will be open and accessible to all heavy commercial vehicles in Europe, regardless of brand.
Martin Lundstedt, President and CEO, Volvo Group said, “We are making what would be impossible for one actor alone to accomplish – this strong partnership is a significant milestone and accelerator towards carbon-neutral transport in Europe by 2050.”
The JV team will work to scale up operations and network deployment to provide public charging for heavy-duty vehicles. As the demand for battery electric trucks and coaches is expected to grow rapidly in the coming years, the team will work collaboratively across industries to design and build charging solutions that match the needs of transport companies and drivers.
The Volvo Group, Daimler Truck, and the Traton Group will own equal shares in the JV but continue to be competitors in all other areas.
The three partners signed the joint venture agreement in December 2021.