Volvo Group, Daimler Truck, and Volkswagons AG heavy truck business the Traton Group announced Monday that they had reached a non-binding deal to create a network high-performance public charging points for long-haul electric buses and heavy-duty trucks. Reuters first reported the news.These three European carmakers will invest 500 millions ($593million USD) in 1,700 charging stations. They are located near highways and strategic locations. The companies plan to close the deal by the end this year and begin operations next year. They also hope to increase the number of charging points as they seek out additional partners for their future joint venture.This venture will help prepare the European Union for its goal of carbon-neutral freight transport by 2050. A lack of charging infrastructure has been an obstacle for individuals and freight companies to switch to electric vehicles. Volvo, Daimler, and Traton will be able to increase their sales of electric buses and trucks by constructing that infrastructure.Martin Daum, CEO Daimler Truck stated that climate neutrality is the common goal of Europe's truck manufacturers. It is crucial that the infrastructure needed to put CO2 neutral trucks on the roads is built. We are excited to work with Volvo Group and TRATON GROUP to create a high-performance charging network throughout Europe.Volvo and Daimler have a long history of working together. The two rivals teamed up in May to create hydrogen fuel cells for long-haul trucks. This was to reduce development costs and increase production. This is yet another sign that large companies are coming together to address climate-related problems in the industry.European car industry association ACEA called for 50,000 high-performance charging stations by 2030. Matthias Gruendler, CEO of Traton, told Reuters that approximately 10 billion euros is needed to electrify Europe's infrastructure by 2050.Volvo released a statement stating that this venture is also an appeal to other stakeholders in the industry like governments and automakers to join forces to achieve the rapid expansion necessary to meet climate goals.Brand-neutral charging stations will be available. Battery electric vehicle fleet operators can use fast charging during the European 45-minute mandatory rest period for long distance transport, as well as charge overnight at the charging stations.Amsterdam will be the corporate headquarters of the joint venture. Volvo, Daimler, and Traton will each own equal shares of the venture. However they will continue to compete in other areas.
