Stuttgart – Daimler Truck has signed a binding agreement on establishing a joint venture with the Traton Group and Volvo Group. The aim is to drive forward the creation and operation of a high-performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe. The proposed joint venture, which will be owned in equal parts by the founding parties, will begin operating in 2022 and have its headquarters in Amsterdam. The deal is currently awaiting approval from the relevant authorities.
Within five years, the parties to the agreement intend to set up and operate around 1,700 high-performance green energy charging points on and close to highways as well as at logistic and destination points. To accomplish this, the joint venture is planning to invest a total of around EUR 500 million. The intention is that additional charging points will be installed with public funding. The companies believe that the project is the biggest investment in charging infrastructure for heavy trucks in Europe to date. It will thus make a significant contribution to climate-neutral transportation.
The Daimler Truck inhouse legal team was led by Dr Florian Hofer, Associate General Counsel.
An international CMS team headed by lead partner Dr Maximilian Grub advised Daimler Truck on all legal aspects of establishing the joint venture.
CMS Germany
Dr Maximilian Grub, Lead Partner, Stuttgart, Corporate/M&A
Dr Kai Wallisch, Partner, Stuttgart, Corporate/M&A
Dr Sabina Krispenz, Principal Counsel, Stuttgart, Corporate/M&A
CMS Netherlands
Erik Vorst, Partner, Corporate/M&A
Britt Strata, Associate, Corporate/M&A
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