Daimler Truck and Volvo Group sign binding agreement for joint venture to develop software-defined vehicle platform

• Daimler Truck and Volvo Group have signed a binding agreement to establish a new 50/50 joint venture to develop a software-defined vehicle platform for heavy duty vehicles and drive the industry transformation.
• The new company aims to set an industry standard with headquarters in Gothenburg, Sweden.
• The common goal of the partners is to develop a truck operating system and to offer the joint venture’s brand- and versatile application-agnostic products to other commercial vehicle OEMs.
• Daimler Truck and Volvo Group will remain competitors in all other business areas and will continue to focus on an independent product and service offering, including the respective differentiating digital customer offerings. 

 As announced in May this year, Daimler Truck and Volvo Group intend to create 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 two leading companies in the commercial vehicle industry have now signed a binding agreement to establish the joint venture and are working towards setting up the company that will be headquartered in Gothenburg, Sweden. The software-defined vehicle platform will enable Daimler Truck and Volvo Group and potential other future customers of the joint venture to provide stand-alone digital vehicle functions for their products.