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© Reuters. File photo: Daimler AG’s FUSO Super Great truck was photographed at the 45th Tokyo Motor Show in Tokyo, Japan on October 27, 2017. REUTERS/Kim Kyung-Hoon/File Photo/File Photo
Frankfurt (Reuters)-Europe’s top three truck manufacturers-Daimler (OTC) Trucks, AB Volvo and Traton-said on Monday that they plan to form a joint venture to develop an electric battery charging network for long-distance trucks and buses .
The expansion of charging infrastructure has been a major obstacle to the large-scale adoption of battery-powered cars.
The three normally rival companies will invest 500 million euros ($593.2 million) in their equal-owned joint venture, which will begin operations in 2022.
The goal is to install and operate at least 1,700 charging points within five years.
The joint venture will be located in Amsterdam and will seek more partners and public funds over time.
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