Joint Venture of Three European Truck Companies... Establishing Charging Infrastructure for Electric Trucks and Buses

[Photo by Reuters Yonhap News]

[Asia Economy Reporter Byunghee Park] Three major European truck manufacturers, Daimler, Volvo, and Traton, are establishing a joint venture to build long-distance operation infrastructure for electric trucks and buses.

The joint venture is scheduled to launch next year, with the three companies planning to invest a total of 500 million euros. The joint venture shares will be equally divided among the three companies.

The reason these three competitors have joined forces is due to the urgent need to build infrastructure for the large electric vehicle market.

Martin Daum, CEO of Daimler Truck, said, "Infrastructure is a key element for the future electric vehicle market," adding, "Lack of infrastructure can cause serious problems for the electric vehicle market."

Building infrastructure requires large-scale investment. The European Automobile Manufacturers Association (ACEA) has stated that high-performance charging facilities must be in place by 2030.

Matthias Gr?ndler, CEO of Traton, estimated that 10 billion euros will be needed to establish a complete electric vehicle infrastructure by 2050.

The three companies plan to establish at least 1,700 charging facilities over the next five years through the joint venture. In the long term, they intend to increase partners and also seek public funding.

The joint venture headquarters is expected to be located in Amsterdam, Netherlands.

This content was produced with the assistance of AI translation services.