Automakers Volvo, Daimler Truck, and Traton are looking at setting up a €500 million joint venture into charging stations for electric trucks and buses throughout Europe.
A Volvo FH Electric truck, one of the electric haulage offerings from Volvo. Credit: Volvo Trucks
The venture hopes to increase the adoption of battery-electric vehicles in the haulage, freight and transport sectors in a bid to meet bloc-wide climate goals, subject to regulatory approval.
Read more: The EU's plans to clean up urban mobility
Operations are expected to start in 2022. Under the current plans, it is expected around 1,700 new charging stations will be set up across Europe "close to highways as well as at logistic and destination points" within five years. Each company will hold an equal stake in the venture.
In addition to dealing with current shortages of charging ports across the continent, each company hopes that easing access to public charging should also spark significant sales increases for their own electric brands as well as meeting zero-emission goals laid out by the European Green Deal.
"We are going from words to action, and this planned joint venture with Daimler Truck and the TRATON GROUP is an important step in shaping a world we want to live in", said Volvo President Martin Lundstedt, adding that ventures such as this are required in order to meet climate goals and make the transition easier for customers.
"This is both a historical milestone in the transformation towards fossil-free transport and a breakthrough that shows Volvo Group's commitment to reaching net-zero greenhouse gas emissions by 2040 and net-zero emissions rolling fleet by 2050 at the latest", he added.
Industry leaders estimate as many as 15,000 new charging stations will be needed by 2025, doubling to around 30,000 by 2030.
Oil giant Shell has pledged to install at least 50,000 EV charging stations by 2025 as it hopes to dominate the market by the mid-decade.
Read more: Shell to push for 50,000 EV charging stations by 2025
Traton CEO Christian Levin says the venture should "be a strong push for the rapid breakthrough of battery-electric trucks and coaches, the most efficient and sustainable transport solutions".
A collaboration with strong competitors ... might seem unusual. However, the topic is of crucial importance and this unique cooperation will make us faster and more successful in delivering the transformational action needed to tackle climate change", he added.
"Today's signing announcement is great news for the transport industry and society, as it underlines all of the partners' strong commitment to making CO2-neutral trucks a reality", said Martin Daum, Daimler Truck CEO.
"It is remarkable that three fierce competitors in the area of trucks and vehicle technology are taking action together to start establishing the needed charging infrastructure".
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