Volvo, Daimler and Traton announce charging network for trucks

Link copied

11:41 | 17 December 2021

Volvo, Daimler and Traton announce charging network for trucks

Three leading truck manufacturers Volvo Group, Daimler Truck and Traton Group have signed an agreement to establish a public network of high-capacity charging stations for electric trucks and electric buses in Europe. This is reported on the Volvo Group’s website.

The companies intend to accelerate charging infrastructure in response to the growth of electric vehicles in Europe and contribute to climate-neutral transportation by 2050, the statement said.

The joint venture created for this purpose will be equally owned by the three parties. The venture is expected to begin operations in 2022 after regulatory approval. Over the next five years, at least 1,700 high-capacity charging stations will be installed and commissioned.

The parties are jointly investing €500 million, which is considered to be the largest investment in charging station infrastructure in the European heavy-duty truck industry to date.

The number of charging points is reportedly planned to increase over time by attracting additional funding from partners and the government. The joint venture will operate under its own brand and will be based in the Netherlands.

The joint effort between Volvo Group, Daimler Truck and Traton Group addresses an urgent need for a high-performance charging network to support trucking operators in their transition to carbon neutrality.

Charging infrastructure that enables long-distance trucking is a cost-effective way to significantly and quickly reduce emissions, the statement said.

Earlier in November it became known that investment giant BlackRock became a shareholder in Ionity, a joint venture (a company we included in our new investment portfolio) which is engaged in the creation and operation of a network of electric vehicle fast charging stations;

The total investment in the financing round was €700 million ($788 million).

The new funding will allow Ionity to more than quadruple the number of 350-kilowatt charging stations, which should reach at least 7,000 by 2025.

Ionity did not provide a detailed breakdown of the funding round, which also includes existing investors such as Volkswagen, Daimler, BMW, Ford and Hyundai.

Also last month, the media reported that BlackRock was going to invest about €500 million in a network of charging stations. BlackRock’s investment in Ionity makes it the first shareholder of a company that is not representative of the auto industry, highlighting the growing interest in the electric vehicle sector, which covers not only the production of cars per se, but also the infrastructure.

Follow the information in a format that is convenient for you: Telegram, Facebook, YouTube.

Uncategorized

19:11 | Apr 05, 2024

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche

Toncoin, The Open Network’s native cryptocurrency token, has once again entered the list of the 10 most significant coins by […]

Uncategorized

16:21 | Mar 04, 2024

Bitcoin Tops $65K as Bullish Bets Climb to Record High

The largest cryptocurrency is now just 5% away from its 2021 high in U.S. dollar terms, having already reached records […]

Hereby "Global Venture Partners s.r.o." notifies that it carries out its activities in accordance with paragraph 1 of article 15, the law on investment companies and investment funds of 19.06.2019. Listed in the ZISIF § 15 para. 1 asset management list managed by the CNB in accordance with § 596 (1) CRR. (F) ZISIF.

IČO: 08241473. LEI: 5493003MKEWYLZ837883...
This information on the site is not an individual investment recommendation, and the financial instruments or transactions mentioned in this material may not correspond to your investment profile, financial situation, investment experience, investment goals. Determining the compliance of a financial instrument or transaction with investment objectives, investment horizon and risk tolerance is the task of the investor
Venture fund Global Venture Partners s.r.o. is not responsible for possible losses of the investor in case of investing in the financial instruments mentioned in this material and does not recommend using the specified information as the only source of information when making an investment decision.
* The Venture Fund does not provide guarantees regarding the reliability and accuracy of the information provided, none of the assumptions contained in this material can be interpreted as a guarantee of investment reliability, income stability and possible benefits associated with management methods or the choice of specific financial instruments. The value of investment products may increase and decrease, the results of investing in the past do not determine future income, the company does not guarantee the profitability of investments in investment funds. All information about the profitability (value gain) of the product managed by Global Venture Partners s.r.o. are quoted excluding commissions and taxes. Charging a commission will reduce the return on investment in investment products. Before purchasing an investment product, you should carefully read the rules of trust management for this product. Services for transactions with foreign securities are available to persons who are qualified investors in accordance with applicable law and are performed in accordance with the restrictions established by applicable law.

Show

Hide