Daimler Truck and Volvo to form software joint venture

STUTTGART: German truck maker Daimler Truck and Sweden's Volvo intend to form a joint venture to develop a software-defined vehicle platform and dedicated truck operating system, the two companies said on Friday.

The new company would be a 50/50 joint venture, with the deal expected to close by the first quarter of 2025, according to a preliminary non-binding agreement.

The joint venture is set to be based in Gothenburg, Sweden, incorporating existing assets and resources of both companies into the new organisation.

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.