2023-05-02 09:22:00 ET
Infrastructure remains the biggest speed bump slowing down the decarbonization of the trucking sector. That led a trio of companies -- Daimler Truck North America (DTNA), NextEra Energy (NYSE: NEE) , and BlackRock (NYSE: BLK) -- to form a joint venture (JV) last year to address this issue. They recently unveiled the name of their JV -- Greenlane -- and provided some additional details about their plans.
Greenlane can potentially supercharge growth for electric vehicles (EVs) by eliminating a key issue holding back their greater adoption. Here's a closer look at Greenlane and how it could boost demand for zero-emission vehicles.
DTNA, NextEra Energy, and BlackRock are investing more than $650 million into Greenlane. The JV will design, develop, install, and operate a network of zero-emission public charging and hydrogen fueling stations across the U.S. Greenlane's initial focus will be to support battery-electric medium and heavy-duty vehicles. It also intends to build hydrogen fueling stations for fuel cell trucks. Greenline ultimately plans to provide access to this infrastructure for light-duty vehicles.
For further details see:
This Partnership Could Supercharge Growth for EV Stocks