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Daimler Truck, Traton, Volvo sign off JV plans for Europe charging network -Breaking

by Mike Robinson

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© Reuters. An electric car battery charger sign is placed on the parking lot near Wolfsburg’s soccer stadium, Germany. April 6, 2016. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) – Daimler (OTC:) Truck, Traton and Volvo have signed off plans announced in July https://www.reuters.com/article/truck-jv-electric-idCNL2N2OH0HN for a joint venture to set up a high-performance electric charging network for trucks and buses across Europe, the companies said on Thursday.

They will each invest 500 millions euros (or $556.10million) to create and manage at least 170 high-performance charging points close to motorways and logistics hubs. These operations are scheduled to start in 2022.

According to the statement, authorities are still waiting for approval.

($1 = 0.8848 euros)

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