Daimler, Volvo and Traton plan $600 million truck-charging joint venture
Three major European truck manufacturers – Daimler Trucks, AB Volvo and Traton – said on Monday they plan to form a joint venture to develop an electric battery-charging network for long-haul trucks and buses.
Charging infrastructure expansion has been a central hurdle to the mass adoption of battery-powered vehicles.
The three companies, which are normally competitors, will invest 500 million euros ($593.20 million) in the venture that they will own equally and that will start operations in 2022.
