Daimler Truck: EU clears joint venture
(CercleFinance.com) - The European Commission has approved the creation of a joint venture between Volvo, Traton and Daimler Truck.
The joint venture will build and operate an accessible charging network for battery-electric trucks and coaches along major motorways 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 Volkswagen Group's truck and bus business 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.
The Commission concluded that the proposed acquisition would not raise competition concerns.
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