Volvo Group and Daimler Truck have reached an agreement to establish a joint venture to develop a common software-defined vehicle platform and dedicated truck operating system, providing the basis for future software-defined commercial vehicles. This technical basis must enable Volvo Group and Daimler Truck and potentially other partners to provide differentiating digital vehicle features for its products ultimately enhancing customer efficiency and experience.
Volvo Group and Daimler Truck intend to be 50/50 partners in the joint venture, which will operate as an independent entity, with Volvo Group and Daimler Truck continuing to be competitors in all other areas of business. In the context of the already heavy-investments into the transformation towards CO2-neutral drive technologies, cooperation on digital technology development has become vital to best meet development objectives and customer expectations within a feasible timeframe, according to Volvo Trucks in a press release.
The now signed preliminary agreement is non-binding. A final agreement is expected within this year, with the goal to close the final transaction in Q1 2025, subject to necessary examination and approvals by the respective authorities. Other than this co-operation, Daimler and Volvo Trucks will remain competitors in the truck market.
