In May, Volvo Group and Daimler Truck announced plans to collaborate on a joint venture aimed at developing a unified software-defined vehicle platform and a specialized operating system for trucks. The two industry leaders have now formalized their commitment by signing a binding agreement to establish this venture, which will be based in Gothenburg, Sweden. The new software-defined vehicle platform will empower both companies and potentially other clients to deliver independent digital vehicle functionalities for their products.
Driving Digital Innovation
Karin Rådström, CEO of Daimler Truck, stated, “This agreement illustrates our shared commitment to spearheading the digital transformation in our sector. The software and hardware developed through this venture will be essential for achieving new standards in safety, comfort, and efficiency for our customers.”
Martin Lundstedt, President and CEO of the Volvo Group, emphasized, “By collaborating, we aim to reshape software architecture and initiate a new era of self-optimizing trucks. We are simplifying complexities to enable our customers to achieve greater connectivity, safety, and efficiency, continually enhancing performance. This marks a groundbreaking approach to the challenges we face today, setting a new industry benchmark.”
The joint venture will focus on specifying and sourcing centralized high-performance control units specifically designed for commercial vehicles, capable of processing significant volumes of data. The new entity will create an operating system and tools that vehicle manufacturers can utilize to develop unique digital features. This approach will separate software and hardware development cycles, allowing customers to wirelessly purchase and update digital applications, ultimately improving efficiency and user experience.
Despite this collaboration, Volvo Group and Daimler Truck will maintain their competitive stance and continue to offer distinct products and services, including their own digital solutions. The joint venture is projected to be finalized in the first half of 2025, pending necessary regulatory approvals.
The Volvo Group is dedicated to promoting prosperity through transport and infrastructure solutions, providing a range of products such as trucks, buses, construction equipment, and power solutions for marine and industrial applications.
Founded in 1927, the company is committed to advancing sustainable transport and infrastructure solutions. Headquartered in Gothenburg, Sweden, the Volvo Group employs over 100,000 people and serves clients in nearly 190 markets. In 2023, the company reported net sales of SEK 553 billion (EUR 48 billion), and its shares are traded on Nasdaq Stockholm.
