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Firms plan to invest $593 million in charging network for trucks

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Sina Schuldt | picture alliance | Getty Images

Three major transportation firms are set to work with one another on the development of a European charging network for “battery electric heavy-duty long-haul trucks and coaches.” 

In a joint announcement earlier this week, Volvo, Daimler Truck and the Traton Group said they had signed a non-binding agreement related to the installation and operation of the network. The goal is to set up a joint venture that all three firms would own an equal part of, with operations slated to commence in 2022.

Together, the companies are set to invest 500 million euros (around $593 million) in the joint venture, which would be based in the Dutch city of…



Source cnbc.com

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