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The new company is intended to be a 50/50 joint venture to be headquartered in Gothenburg, Sweden.
As two leading companies in the commercial vehicle industry, Daimler Truck and Volvo Group share the ambition to lead the digital transformation to software-defined heavy-duty commercial vehicles. To amplify their efforts, both companies have reached a preliminary 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. The intention is to make the new joint venture a leading developer of standardized hardware and software. This technical basis will then enable Daimler Truck and Volvo Group and potentially other partners to provide differentiating digital vehicle features for its products ultimately enhancing customer efficiency and experience.
Daimler Truck and Volvo Group intend to be 50/50 partners in the joint venture, which will operate as an independent entity, with Daimler Truck and Volvo Group 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 even more vital to best meet development objectives and customer expectations within a feasible timeframe.
The joint venture is set to be headquartered in Gothenburg, Sweden, incorporating existing assets and resources of both companies into the new organization. The goal of both shareholders is to set the industry standard for a truck operating system and offer its products to other OEMs as well. To that end the joint venture will provide a common developer platform as a service, on top of which its customers can build differentiating software layers. Read more
Source: DAIMLER TRUCK
