Daimler, Volvo, Traton form $593m truck charging joint venture
Daimler AG, Volvo AB and Traton SE plan a joint venture for a high-performance charging network for battery-electric trucks and coaches across Europe worth $593m.
Cboe DE 30
0.00
10:18 26/09/24
Cboe Europe 50
17,135.45
11:45 01/12/20
Cboe Europe All Companies
51.54
11:45 01/12/20
Cboe Europe All Companies ex UK
19,980.24
11:45 01/12/20
Cboe Europe Consumer Cyclicals Sector
24,717.09
11:45 01/12/20
Cboe Eurozone 50
480.50
11:45 01/12/20
Cboe Eurozone All Companies
18,180.28
11:45 01/12/20
Daimler Ag
€69.50
16:30 01/10/24
Volvo AB
n/a
16:30 14/11/24
The manufacturers will spend $593m for at least 1,700 charging points by about 2027 that will be powered by green energy, according to a statement on Monday.
“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.
The venture will try to help the companies keep up with tightening regulation in the European Union on diesel engines and emissions.
“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 is expected to be signed at the end of this year.