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Daimler Truck North America, the renewable energy group of BlackRock Inc. and NextEra Energy Resources announced a joint venture to create electric charging networks along critical freight corridors on the East and West Coasts and in Texas starting in 2026 .

Once the joint venture is in place, initial funding is expected to be $650 million split equally between the three parties, according to a statement released Jan. 31.

“This project is a crucial step towards the development of a sustainable ZEV [zero-emissions vehicle] across North America, and we look forward to including more partners as it progresses,” DTNA CEO John O’Leary said in a statement. “We are committed to providing access to this network not only to DTNA vehicle brands, but also to all manufacturers using the industry’s predominant charging standards and communication protocols.”

The effort would leverage existing infrastructure and amenities while adding complementary greenfield sites to meet anticipated customer demand, the companies said.

The first phase is expected to begin construction in 2023.

DTNA CEO John O’Leary

Initial focus will be on battery electric medium and heavy duty vehicles, followed by hydrogen refueling stations for fuel cell trucks; the sites will also be available for light vehicles to serve the larger goal of electrifying mobility, the companies noted.

DTNA was the 2021 leader in combined U.S. retail sales of Class 6-8 vehicles, Wards Intelligence reported. In April, in cooperation with local utility company Portland General Electric, DTNA opened the first public charging site of its kind for commercial vehicles in the United States.

NextEra Energy Resources, a leading producer of renewable energy from wind and solar, is also a major investor in electricity and charging infrastructure; he noted that it was one of the largest wholesale power generators in the United States, with 23,900 megawatts of total net generating capacity, mostly in 38 states and Canada at the end of 2020 .

Investment manager BlackRock’s Renewable Power group has more than $9.5 billion in total commitments and investments in more than 350 wind and solar projects, in addition to electric vehicle charging infrastructure and storage systems of battery power, in 15 countries and five continents.

“Engineers and scientists are working around the clock on how to decarbonize cement, steel and plastics; shipping, trucking and aviation; agriculture, energy and construction,” BlackRock CEO Larry Fink wrote in his 2022 annual letter to CEOs on behalf of his clients who are shareholders of those companies.

“I believe decarbonizing the global economy is going to create the greatest investment opportunity of our lifetimes,” Fink said. “It will also leave behind businesses that are not adapting, regardless of their industry. And just as some businesses risk being left behind, so too are cities and countries that fail to plan for the future. They risk losing jobs, even if other places gain them. Decarbonizing the economy will come with huge job creation for those who engage in the necessary long-term planning.

The Biden administration has a strategy to build 500,000 electric vehicle charging stations across the country over the next eight years. The recently enacted bipartisan infrastructure law provides for infrastructure funding.

“As more heavy-duty vehicle models become market-ready and sold over the next few years and the range of electric vehicles improves, the most logical location for truck charging locations long-haul freight should be existing truck fueling locations,” American Trucking Associations wrote in its comments on the plan.

Meanwhile, for fleets considering electrified trucks and the way forward, the North American Council for Freight Efficiency concluded in a recent report that there are two main business models for purchasing charging stations. and associated infrastructure:

• Buy the stations, often through a request for proposals process;
• A rental arrangement where the supplier owns the stations and the fleet simply pays a fee to use them.

“Other innovative trade deals may be possible. For example, third parties could step in with capital to create turnkey systems with different utilization rates, which could relieve the site owner of the complexity of managing part or all of the pricing system. “, wrote NACFE.

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