Need for Commercial EV Charging Network Brings Competitors Together

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4Q 2021 | IN-6395

 

Daimler, Volvo, and TRATON Shake Hands

NEWS


Daimler Truck (a spin-off of Daimler AG) joined the Volvo Group, along with VW AG’s the TRATON Group, for a joint venture (JV) planned to establish and manage a public charging network for heavy-duty, long-haul electric vehicles and buses throughout Europe. The three partners expect to invest about US$593 million in order to enable a minimum of 1,700 brand-agnostic charging stations over the next five years. They will be located near highways and other key locations. The JV is expected to have its own separate corporate identity with headquarters in Amsterdam, Netherlands.

Infrastructure Required to Impact Adoption

IMPACT


The JV should help support the European Union’s Green Deal and the 2050 deadline for carbon-neutral freight transportation. TRATON’s CEO detailed that in order for the EU to achieve the 2050 goal, it will require approximately €10 billion (approximately US$11 billion) worth of infrastructure. The €500 million investment in the new corporate entity is estimated to be the greates…

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