NextEra Energy, Daimler, and BlackRock have signed an agreement to establish the groundwork for a potential joint venture to build, implement, and manage a countrywide charging network for medium- and heavy-duty battery-electric and hydrogen fuel cell cars in the United States.

By 2026, the firms propose to develop a network of charging stations along major freight routes on the east and west coasts, as well as in Texas, using existing infrastructure and facilities while adding complementing greenfield sites to meet expected consumer demand.

The first phase of development is planned to begin next year, with an initial budget of $650 million distributed equally among the three partners.

“We hope to accelerate the transition of the transportation industry by partnering with Daimler Truck North America and BlackRock to make future investments in electrification improvements, charge stations, and renewables,” said NextEra Energy Resources President and CEO John Ketchum.

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