Volvo, Daimler Truck sign binding agreement to form software-defined vehicle JV
Volvo Group and Daimler Truck have signed a binding agreement to form a joint venture that will develop a software-defined vehicle platform.
The 50/50 JV aims to set an industry standard and will be based in Gothenburg, Sweden. It will focus on developing a truck operating system and will make its products available to other commercial vehicle makers.
Volvo and Daimler Truck will remain competitors on all other aspects of the business.
“The signing demonstrates our joint commitment to lead the digital transformation of our industry. The software and hardware from this joint venture will be crucial for achieving unprecedented levels of safety, comfort, and efficiency for our customers,” says Karin Rådström, CEO of Daimler Truck.
Martin Lundstedt, president and CEO of the Volvo Group, adds: “We are joining forces to redefine software architecture and pioneer a new era of self-optimizing trucks. Together we are removing complexity to allow our customers to unlock higher levels of connectivity, safety and efficiency and continually push for a greater performance. It is a revolutionary response to the challenges of our modern world, and we are proud to be setting the industry standard.”
The JV is expected to be completed in the first half of 2025.
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