Recently, Europe’s three largest truck makers, Volvo Group, Daimler Truck, and the TRATON GROUP, have announced a plan to build a high-performance public charging network for electric heavy-duty long-haul trucks.
With the deal, the companies aim to accelerate the growth of charging infrastructure and support the EU’s climate-neutral transportation. Last year, Europe’s six largest truck makers pledged to eliminate polluting diesel models from their portfolio by 2040.
Investing €500M
As a part of the future joint venture deal, the groups will invest €500M in 1,700 high-performance green energy charging points close to highways as well as logistics and destination points.
According to FT, the charging speeds will range from 50 kilowatts for overnight stops up to 750kW, which is fast enough to recharge a truck battery during a 45-minute rest. The three companies are still waiting for regulatory approval for the use of 750kW chargers.
The number of charging points is with time intended to be increased significantly by seeking additional partners and public funding, says the press release.
According to Matthias Gründler, TRATON GROUP, chief executive, Europe only has 10 charging stations. The three companies expect to have the sites ready by 2027.
Competitors outside JV
The future JV is planned to operate under its own corporate identity and be based in Amsterdam, Netherlands.
Volvo Group, Daimler Truck, and the TRATON GROUP will own equal shares in the planned JV, but continue to be competitors in all other areas, confirms the company.
The agreement is similar to IONITY, where several carmakers including, BMW Group, Daimler AG, Ford Motor Company, and Volkswagen Group, came together in 2017 to invest in superfast charging stations for cars across Europe.
Regulatory approvals pending
The creation of the JV is subject to regulatory and other approvals. The signing of a JV agreement can be expected by the end of 2021.
According to ACEA (Association des Constructeurs Européens d’Automobiles), the European Automobile Manufacturers Association, 50,000 high-performance chargers are needed for heavy vehicles by the end of this decade.
Martin Lundstedt, President and CEO Volvo Group: “We are laying the necessary foundation in making a breakthrough for our customers to make the transformation to electrification by creating a European charging network leader. We have powerful electromobility technologies, and now, with Daimler Truck, the TRATON GROUP and thanks to the European Green Deal, also an industry-wide understanding as well as a political environment to make fundamental progress towards sustainable transport and infrastructure solutions.”
Martin Daum, CEO Daimler Truck: “It is the joint aim of Europe’s truck manufacturers to achieve climate neutrality by 2050. However, it is vital that building up the right infrastructure goes hand in hand with putting CO2-neutral trucks on the road. Together with Volvo Group and the TRATON GROUP, we are therefore very excited to take this pioneering step to establish a high-performance charging network across Europe.”
Matthias Gründler, CEO TRATON GROUP: “For the TRATON GROUP, it is clear that the future of transport is electric. This requires the rapid development of publicly accessible charging points, especially for long-distance heavy-duty transport. We are now moving forward together with our partners Daimler Truck and Volvo Group to make this high-performance network a reality as quickly as possible.”
