According to Electrive, the new company aims to deploy and operate some 1.700 high-power stations across frequently transited roads and logistic hubs in Europe over the next five years.

The three companies who will collaborate in this joint venture agreed to invest 500 million euros, claiming that it is the largest investment so far in the charging infrastructure for heavy electric trucks in Europe.

CVCE's main focus will be delivering reliable, easy-to-access charging points for electric commercial vehicles.

With this effort, the three companies ask others to come and join the process of electrification.

Martin Lundstedt, President and CEO of Volvo Group, said that "we are making what would be impossible for one actor alone to accomplish – this strong partnership is a significant milestone and accelerator towards carbon-neutral transport in Europe by 2050."