Daimler Truck, one of the largest commercial vehicle manufacturers in the world, has signed a binding agreement to establish a joint venture with the Volvo Group and Traton, a subsidiary of the Volkswagen Group. The aim is to create and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe.
The proposed business, 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.
An international CMS team headed by lead partner Dr Maximilian Grub advised Daimler Truck on all legal aspects of establishing the joint venture.
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