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

Reuters
Updated ·1-min read
A battery charger sign for electric cars is painted on the ground of a parking ground near the soccer stadium in Wolfsburg

BERLIN (Reuters) - Daimler 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.

The three firms will invest 500 million euros ($565.10 million) to set up and operate at least 1,700 high-performance charging points near motorways and logistics hubs within five years, with operations set to commence in 2022.

The venture is still awaiting approval from authorities, the statement said.

($1 = 0.8848 euros)

(Reporting by Riham Alkousaa, Victoria Waldersee)