$600 Million Investment of Traton, Volvo and Daimler for Joint Venture on Ev Charging Commercial Trucks in Europe

Daimler, Volvo, and the Volkswagen Traton truck unit have announced plans to form an electric vehicle charging joint venture to support the deployment of battery-powered trucks across Europe. Truckmakers Daimler, Volvo, and Traton together are investing 500 million euros (the US $ 593 million) to install and operate at least 1,700 high-performance green energy charging stations strategically located near roads, logistics centers, and destination points, within five years. years of the establishment of the joint venture. The joint venture will help meet the European Union's Green Deal for zero-carbon freight transport by 2050 by providing the necessary charging stations powered by green energy.