On Monday, Volvo Group, Daimler Truck and Volkswagon’s AG heavy-truck business the Traton Group announced a non-binding agreement to build a network of high-performance public charging stations for electric heavy-duty long-haul trucks and buses around Europe.
The three major European automakers will invest €500 million (~$593 million USD) to install and operate 1,700 charging points in strategic locations and close to highways.
They intend to finalize the agreement by the end of this year and start operations next year, with the hopes of increasing the number of charge points significantly as the companies seek additional partners for the future joint venture.
The venture is meant to be a catalyst to prepare for the European Union’s goals of carbon-neutral freight transportation by 2050.
One of the main deterrents for both individuals and freight companies for switching to EVs has historically been a lack of charging infrastructure. By building that infrastructure, Volvo, Daimler and Traton can also expect to boost their own sales of electric trucks and buses.
“It is the joint aim of Europe’s truck manufacturers to achieve climate neutrality by 2050,” Martin Daum, CEO of Daimler Truck, said in a statement