The parties are committed to initiating and accelerating the necessary build-up of charging infrastructure for the increasing number of customers of electric vehicles in Europe and contribute to climate-neutral transportation in Europe by 2050. The joint venture creation is subject to regulatory approvals.
The planned joint venture — to be equally owned by the three parties — is scheduled to start operations in 2022 following completion of all regulatory approval processes. The parties are together committing to invest €500 million, which is assumed to be by far the largest charging infrastructure investment in the European heavy-duty truck industry to date. The plan is to install and operate at least 1,700 high-performance green energy charging points on and close to highways as well as at logistic and destination points within five years of the establishment of the joint venture. The number of charging points is with time intended to be increased significantly by seeking additional partners as well as public funding. The future joint venture is planned to operate under its own corporate identity and be based in Amsterdam, Netherlands. The future joint venture will be able to build on the broad experience and knowledge of its heavy-duty trucking founding partners.
Significant and fast-to-realize emission reductions
The future joint venture will act as catalyst and enabler for realizing the European Union’s Green Deal for carbon-neutral freight transportation by 2050 — both by providing the necessary infrastructure and targeting green energy at the charging points. The joint action of Daimler Truck, the Traton Group and Volvo Group addresses the urgent need for a high-performance charging network to support truck operators with their transition to CO2-neutral transport solutions, especially in heavy-duty long-distance trucking. High-performance charging infrastructure enabling long-haul trucking is a cost-efficient way towards significant, fast-to-realize emission reductions. This initiative is a significant start and an accelerator to make CO2-neutral heavy trucks and coaches a success.
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The three partners see this as a breakthrough for the transport industry to cut carbon emissions — and for other industries to benefit in several ways. A recent industry report is calling for up to 15,000 high-performance public and destination charging points by no later than 2025, and up to 50,000 high-performance charging points by no later than 2030. Therefore, this kick-start is a call for action to all other industry players, as well as governments and policy makers, to work together for a rapid expansion of the necessary charging network to be able to contribute to reaching the climate targets. As a clear signal towards all stakeholders, the charging network of the three parties will be open and accessible to all commercial vehicles in Europe, regardless of brand.
Customer-centric approach taking different applications into consideration
By focusing on customers’ needs, different applications will be taken into consideration. Battery electric vehicle fleet operators will be able to leverage both fast charging tailored to the 45-minute mandatory rest period in Europe focusing on long-distance transport — the highest priority of the future joint venture — and also overnight charging.
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Daimler Truck, the Traton Group and Volvo Group will own equal shares in the planned joint venture but continue to be competitors in all other areas. The creation of the joint venture is subject to regulatory approvals. (mfo)
