Volvo, Daimler Truck Launch Vehicle Software Joint Venture

By Dominic Chopping

STOCKHOLM--Swedish truck maker Volvo and German peer Daimler Truck have launched a new joint venture that will develop a software-based manufacturing platform to build digitized commercial vehicles.

The launch of Coretura follows an agreement last year to move ahead with the project. The formation of the jointly-owned company is headquartered in Gothenburg, Sweden.

Digital architecture is crucial for making vehicles that rely on software. The auto industry is transitioning to so-called software-defined vehicles, which can be adapted to new technology and individual needs more easily than conventional vehicles.

Both companies will use the platform to produce their own software-led trucks and buses, and the venture will also offer the service to other manufacturers.

"With Coretura, we are setting a clear strategic focus on software development for commercial vehicles," Daimler Truck Chief Executive Karin Radstrom said. "Together we are starting the digital-driven future of trucks and buses, ultimately making commercial vehicles smarter, more connected, and more efficient."

Coretura began operations at the beginning of June, starting with around 50 employees. It aims to launch its first products in vehicles by the end of the decade.

Volvo's Johan Lunden has been appointed CEO of the venture.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

06-17-25 0318ET