Daimler Truck North America, NextEra Energy Resources, LLC and BlackRock Renewable Power have entered into a Memorandum of Understanding to lay the foundation for a joint venture to design, develop, install and operate a high-performance, nationwide U.S. charging network for medium- and heavy-duty battery electric and hydrogen fuel cell vehicles.

Start of operations is planned for this year, with the first sites set to begin construction in 2023.

Initial funding is expected to be comprised of approximately US$650 million (NZ$979 million) divided equally among the three parties.

“The planned joint venture with NextEra Energy Resources and BlackRock is another building block in our global partnership strategy to accelerate the infrastructure required for carbon-neutral commercial transportation,” said Martin Daum, CEO of Daimler Truck.

“Whether in the U.S. or in Europe, these kind of collaborations are essential to successfully tackle the urgent need for zero emission vehicles. Daimler Truck North America, together with its two new allies, is taking the wheel and paving the way for a nationwide infrastructure for battery-electric and hydrogen-powered commercial vehicles in the U.S.”