Karin Rådström, CEO Daimler Truck, und Martin Lundstedt, President und CEO der Volvo Group Karin Rådström, CEO of Daimler Truck, and Martin Lundstedt, President and CEO of the Volvo Group

Daimler Truck and Volvo Group: Agreement for joint venture to develop a software-defined vehicle platform

As announced in May this year, Daimler Truck and the Volvo Group intend to establish a joint venture to develop a common software-defined vehicle platform and a dedicated truck operating system that will form the basis for future software-defined commercial vehicles. As two leading companies in the commercial vehicle industry, both have now signed a binding agreement to establish the joint venture and are working towards the launch of the company, which will be based in Gothenburg, Sweden.

‘The agreement underlines our joint commitment to drive the digital transformation of our industry. The software and hardware developed in this joint venture will play a crucial role in providing our customers with unprecedented levels of safety, comfort and efficiency,’ said 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 usher in a new era of self-optimising trucks. Together we are removing complexity to provide our customers with higher levels of connectivity, safety and efficiency and continuously improve performance. This is a revolutionary response to the challenges of our modern world and we are proud to set the industry standard.’

The joint venture’s activities include the specification and procurement of centralised high-performance control units for commercial vehicles that can process large amounts of data. The new company will also develop an operating system and programming tools on which vehicle manufacturers can develop their own digital vehicle features. This will decouple software and hardware development cycles in the future and enable customers to purchase and update digital applications wirelessly ‘over the air’. This will also improve efficiency and the user experience.

Daimler Truck and the Volvo Group will remain competitors and will continue to focus on a completely independent product and service offering, including the respective digital solutions. The transaction for the joint venture is expected to be completed in the first half of 2025, subject to obtaining all necessary regulatory approvals.

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29.10.2024   |  

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