Three major transportation firms are set to work with one another on the development of a European charging network for “battery electric heavy-duty long-haul trucks and coaches.”
In a joint announcement earlier this week, Volvo, Daimler Truck and the Traton Group said they had signed a non-binding agreement related to the installation and operation of the network. The goal is to set up a joint venture that all three firms would own an equal part of, with operations slated to commence in 2022.
Together, the companies are set to invest 500 million euros (around $593 million) in the joint venture, which would be based in the Dutch city of Amsterdam.
It’s hoped that, within five years of the JV being set up, at least 1,700 “green energy charging points” will have been installed and functioning. The tech, the firms said, is set to be located “close to highways as well as at logistic and destination points.”
“The number of charging points is with time intended to be increased significantly by seeking additional partners as well as public funding,” they added.
Change on the cards, but challenges ahead
In April, the International Energy Agency said that, globally, the number of electric cars, buses, vans and heavy trucks on roads was expected to hit 145 million by 2030.
According to the Paris-based organization, if governments ramp up their efforts to meet international energy and climate goals, the global electric vehicle fleet could increase further still, hitting 230 million by the end of the decade. Both of these projections exclude two- and three-wheeled electric vehicles.
As the number of EVs on our roads increases, extensive charging networks will need to be rolled out for all types of vehicles to meet increased demand and dispel lingering concerns around “range anxiety” — the notion that EVs aren’t able to undertake long journeys without losing power and getting stranded.
The electrification of long-haul, heavy-duty trucks and coaches poses its own set of unique challenges. As the IEA’s Global EV Outlook for 2021 notes, “long-haul trucking requires advanced technologies for high power charging and/or large batteries.”
Speaking to CNBC’s “Squawk Box Europe” on Wednesday, Volvo’s chief technology officer, Lars Stenqvist, sought to explain why a charging network for heavy duty vehicles was needed.
“Right now, we are producing and distributing electric heavy duty trucks mainly for refuse applications, for city applications,” he said. “And those vehicles, normally they’re coming home to their ‘base camp’ every evening for charging.”
Stenqvist said the next step on the journey would be regional and long haul applications.
“Then, you are dependent on … [getting] the pan-European charging network in place and, right now, it’s a little bit of [a] chicken and egg discussion because there are no vehicles out there and … no infrastructure. But if there is no infrastructure, there will not be any vehicles.”
In terms of how the project would operate on the ground, Stenqvist explained it would be a “public, open network — so whatever make can charge their vehicles in this network.”
Later on in the discussion, Stenqvist stressed the importance of differentiating between vehicles. “We are talking about really high capacity chargers here and that is one of the reasons why we are not using, and cannot use, the car charging network … not from a performance perspective and of course also not from a … layout perspective.”
The best-selling Genesis vehicle in North America is getting even better. Genesis updated the GV70 and Electrified GV70, giving the already impressive SUV more style, added features, and a refined interior. Ahead of deliveries, we are getting our first look at the upgraded interior of the new Genesis GV70 Electrified.
One of the first things you will notice is the revamped front end with a redesigned G-Matrix Grille. The charge port is now in the grille and comes exclusively with an NACS port that unlocks access to Tesla’s Supercharger Network.
The new model features the unmistakable Genesis two-line headlamps, now equipped with microlens array (MLA) tech for better sight at night or in low-light areas.
According to Claudia Márquez, chief operating officer of Genesis Motor North America, the new Electrified GV70 offers “all of the utility and interior refinement of a great SUV without sacrificing the fun-to-drive character that Genesis vehicles are known for.”
The interior now includes a massive new 27″ OLED driver and infotainment display. With improved voice recognition, drivers can adjust the windows, control HVAC settings, and more.
Ahead of deliveries, we are already getting a sneak peek at the updated interior. The latest video from HealerTV reveals the new Genesis Electrified GV70 interior design.
You can see the massive 27″ OLED display at the center. The EV version also differs from the gas-powered GV70, including added ambient mood and a marble-like design on the door panels. The second row also gains ambient lighting and what appears to be a touchscreen for the heat and air controls.
Overall, the new Genesis Electrified GV70 interior maintains its lavish, clean look. Even little details like suede seats with white stitching and white seat belts add to the luxurious feel inside the cabin.
The design isn’t the only upgrade. With a bigger 84 kWh battery, up from 77.4 kWh in the previous model, the new Genesis Electrified GV70 is expected to feature more driving range.
Although no specs were given, the new EV models are expected to gain a few extra miles of range, similar to the updated Hyundai IONIQ 5. The 2025 Hyundai IONIQ 5 gets up to 318 miles of range with the same larger battery, compared to 303 in the previous version.
Check back soon for more details. The new Genesis Electrified GV70 is expected to arrive at US dealerships in the first half of 2025.
Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio.
Stephen Maturen | Getty Images
Republican Senator-elect Bernie Moreno, who made his living as a luxury car dealer before running against and defeating Democrat Sherrod Brown in the large manufacturing state of Ohio, said he is aiming to become the “car czar” within the Senate for the next Trump administration.
If Moreno is to fill that role, one of the first things he would target is eliminating the up to $7,500 tax credit that can be used to buy or lease an electric vehicle.
“At the end of the day, the $7,500 incentive is catastrophically stupid,” Moreno told CNBC D.C. Correspondent Emily Wilkins at the 2024 CNBC CFO Council Summit in Washington, D.C., on Wednesday.
Some senators, like Michigan’s Elissa Slotkin, who was criticized by her Republican challenger Mike Rogers for her support of the Biden administration’s embrace of electric vehicles, have looked to frame their support of the tax credit as a defensive move aiding the auto industry in its battle with Chinese auto manufacturers.
However, Moreno told Wilkins he views that position as “nonsense,” adding that the government should not “tell companies what to do and how to have a strategy.”
“If you don’t care what kind of car they drive, then let the markets work,” Moreno said. “We’re going to let the marketplace decide what kind of cars people should drive, and if it’s electric, great.”
Moreno pushed back against the argument that reversing Inflation Reduction Act incentives like the EV tax credit would effectively cede a key technology race to China. He said that if China is “dramatically ahead of us on EVs – good for them; we’re dramatically ahead of them in terms of combustion and hybrids.”
“So as a country, where do you prefer our industry to go? The places where we have a strategic advantage and not hand an industry over to China?” Moreno said. Moreno added that a change in U.S. law as it relates to the EV incentives is “not be handing it them” but a reflection that “consumers have spoken.”
“There’s never been a case in time where consumers have been more clear about what they want and don’t want,” Moreno said. “There’s people who EVs are great for them, and good for you, that car works for you, you should go out and buy it … But for a lot of people, they don’t want it.”
While electric vehicle sales are still expected to increase in the coming years, the boom in consumer demand for EVs that many car CEOs expected never materialized. “What we saw in ’21 and ’22 was a temporary market spike where the demand for EVs really took off,” Marin Gjaja, chief operating officer for Ford’s EV unit, told CNBC earlier this year. “It’s still growing but not nearly at the rate we thought it might have in ’21, ’22.”
Instead, automakers are shifting their focus to a more mixed offering of vehicles with lineups of gas-powered cars alongside hybrids and EVs, rather than more towards plans like the all-electric by 2035 mandate laid out by GM CEO Mary Barra.
“We’re going to let the marketplace work,” Moreno said. “We’re going to create an environment for car companies to be able to have a good tax environment, a good regulatory environment and good workforce … Let the marketplace work; stop the madness of government intervention in corporations and the marketplace will take care of it.”
GM and EVgo have now reached the milestone of installing more than 2,000 co-branded public DC fast chargers in the US.
The latest addition is a new fast charging station in Murrieta, California, off Interstate 215 in Riverside County. The station features five 350 kW fast chargers that can serve up to 10 EVs at once, and it’s near restaurants, coffee shops, and retail.
The GM and EVgo partnership has resulted in DC fast chargers at over 390 locations in 45 metro markets across 32 states, focusing on spots like grocery stores, shopping centers, and city centers. Their goal is to make charging convenient for those who can’t do it at home, such as renters or people living in apartments. For those folks, finding a nearby fast charger can be a game-changer.
The GM and EVgo partnership is on track to reach its goal of 2,850 DC fast chargers nationwide. It plans to build 400 at flagship locations in major markets, including California, Florida, New York, and Michigan.
It’s been fast progress, too. In August 2023, GM and EVgo brought their 1,000th charging stall online in the Chicago suburb of Woodbridge, Illinois. In just 16 months, they’ve doubled their shared EV footprint, including at highway rest stops along interstate routes.
Wade Sheffer, vice president of GM Energy, said, “Our collaboration with EVgo underscores our dedication to providing EV drivers with the best possible experience by expanding reliable fast charging infrastructure across the country.”
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