Daimler, Volvo, and Traton to form $593 million truck charging venture

Daimler AG, Volvo AB and Traton SE's joint venture will set up charging network for battery-electric trucks and coaches across Europe.The truck industry that heavily relies on diesel faces tightening emission regulations as part of Europe’s Green Deal program.
By : Bloomberg
| Updated on: 05 Jul 2021, 15:28 PM
Picture for representation. (Bloomberg)
Picture for representation. (Bloomberg)
Picture for representation. (Bloomberg)
Picture for representation.

Daimler AG, Volvo AB and Traton SE plan to set up a joint venture for a high-performance charging network for battery-electric trucks and coaches across Europe to keep up with tightening regulation in the European Union.

The manufacturers will spend 500 million euros ($593 million) for at least 1,700 charging points by about 2027 that’ll be powered by green energy, according to a statement on Monday. The number of points should grow significantly over time through additional partners as well as public funding, the founding companies said, who’ll own equal shares in the venture.

Similar Cars

Find More Cars
Hyundai Kona Electric (HT Auto photo)
Hyundai Kona Electric
cc | Electric | Automatic
₹23.79 - 23.98 Lakhs**Ex-showroom price
Kia Sonet (HT Auto photo)
Kia Sonet
1197 cc | Petrol | Manual | 18.4 kmpl
₹6.79 - 13.55 Lakhs**Ex-showroom price
Maruti Suzuki Dzire (HT Auto photo)
Maruti Suzuki Dzire
1197 cc | Petrol | Manual | 23.26 kmpl
₹5.89 - 9.09 Lakhs**Ex-showroom price
Maruti Suzuki Baleno Facelift (HT Auto photo)
Maruti Suzuki Baleno Facelift
1197 cc | Petrol | Manual
₹6.5 - 10 Lakhs**Ex-showroom price
Tata Nexon (HT Auto photo)
Tata Nexon
1199 cc | Petrol | Manual | 17.4 kmpl
₹7 - 13.24 Lakhs**Ex-showroom price

(Also read | Volvo to give new name to its XC90 all-electric successor)

“We are laying the necessary foundation in making a break-through for our customers to make the transformation to electrification by creating a European charging network leader," Volvo Chief Executive Officer Martin Lundsted said in the statement.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

The truck industry, relying heavily on diesel engines, faces tightening emission regulations as part of Europe’s so-called Green Deal, which aims to reach climate neutrality by 2050. While the availability of charging stations for electric passenger cars is increasing in many regions, a public infrastructure for heavy-duty, long-haul vehicles is essentially non-existent so far.

(Also read | Daimler Trucks mulling plans to replace diesel with hydrogen)

“It is vital that building up the right infrastructure goes hand in hand with putting CO2-neutral trucks on the road," Daimler Truck Chief Executive Officer Martin Daum said.

The truck charging joint venture, expected to be signed at the end of this year, will be incorporated in Amsterdam.


First Published Date: 05 Jul 2021, 15:28 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city