Milence, the joint venture between Volvo and Scania, has secured 120 million euros in financing, equivalent to approximately SEK 1.3 billion, to continue the expansion of charging infrastructure for heavy-duty electric vehicles in Europe, according to a press release.
'The technology is ready, the business model is taking shape, and with continued momentum and political support, we can scale up this transition in Europe,' commented Anja van Niersen, CEO of Milence.
The financing comes from a consortium including Edmond de Rothschild Asset Management's infrastructure funds, Íslandsbanki, Invest-NL, and Invest International. The initiative is also supported by the EU through the InvestEU fund.
Milence currently operates 34 charging stations across eight European countries. An additional 16 stations are under development, and the company expects a total of 90 stations to be operational by the end of 2028.
AB Volvo is the leading European truck maker and No. 3 worldwide. Net sales break down by activity as follows:
- sales of trucks (66.2%): 202,911 vehicles sold in 2025 (names Volvo, Renault, Eicher and Mack);
- sales of construction equipment (16.7%): excavators, loaders, backhoes, hydraulic shovels, graders, dump trucks, etc.;
- financial services (5.4%);
- bus and chassis sales (5.1%): world's No. 2 largest manufacturer;
- sales of parts, control systems, and marine and industrial motors (4.2%): for commerce and cruise ships and for industrial applications (irrigation units, lifting trucks, electrical generators, etc.);
- other (2.4%).
Net sales are distributed geographically as follows: Europe (43.1%), North America (29.3%), Asia (11.5%), South America (9.7%), and Africa & Oceania (6.4%).
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