Daimler, Volvo and Traton plan $600m truck-charging JV

    Three major European truck manufacturers – Daimler Trucks, AB Volvo and Traton – said Monday they plan to set up a Joint Venture (JV) to develop an electric battery charging network for long-distance trucks and buses.

    The expansion of the charging infrastructure has been a major obstacle to the mass adoption of battery-powered vehicles, with the lack of extension fueling the so-called range stress, the fear that they will not have enough charging points to make the trip.

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    “Infrastructure will be a key component of the future of electric vehicles. It will be the big bottleneck,” Daimler Trucks CEO Martin Daum told Reuters later this year.

    The three companies, which make all electric trucks and are usually competitors, will jointly invest 500 million euros ($ 593 million) in the jointly owned company, which will be operational in 2022.

    “And then we are very open in all directions to allow other parties to work with us and actually bring equity to the consortium,” said Traton CEO Matthias Gruendler, adding that he expects a lot of outside interest after its establishment. JV.

    The goal is to install and operate at least 1,700 charging points within five years. The joint venture will be based in Amsterdam and over time will seek further partners and public funding.

    The European Automobile Industry Association (ACEA) has requested up to 50,000 high-performance charging stations by 2030. Gruendler said about € 10 billion will be needed to build the European infrastructure for full electricity by 2050.

    “In order to accelerate further, we need additional partners, additional networks and public funds,” said AB Volvo CEO Martin Lundstedt. “We will continue to be very tough competitors. But we need a new platform to compete.”

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