(CercleFinance.com) – The European Commission has authorized the creation of a joint venture between Volvo, Traton and Daimler Truck.
The joint venture will build and operate an accessible charging network dedicated to battery electric trucks and coaches along major highways and logistics hotspots in twelve European countries.
Volvo manufactures and sells trucks, buses, construction equipment, and marine and industrial engines.
Traton is the holding company for the truck and bus business of the Volkswagen Group and operates through its MAN, Scania, Navistar and Volkswagen Caminhões e Ônibus units.
Daimler Truck manufactures and sells trucks and buses under the Mercedes-Benz, Fuso and Setra brands in Europe.
Following its assessment, the Commission concluded that the proposed acquisition would raise no competition concerns.
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