BlackRock, Daimler team up on electric truck charging

BlackRock, Daimler's U.S. division and power giant NextEra Energy are planning a joint venture to develop and deploy charging infrastructure for electric and hydrogen fuel cell trucks.

Why it matters: Wider charging availability will be needed for electric and hydrogen-fueled trucking to become a real thing commercially, even as Daimler and other companies bring models to market.

What's next: Initial funding is slated to be $650 million divided between the companies.

• "The parties plan to build a network of charging sites on critical freight routes along the east and west coasts and in Texas by 2026," the announcement states, with the first construction planned in 2023.