Daimler Truck and Volvo have announced their intention to establish a joint venture, with each brand holding a 50 per cent stake, to digitise heavy transport and develop software programs, according to a statement from the companies this Friday.
Both automakers expect to finalise the remaining details of the operation during the second half of 2024 and to commence joint work in the first quarter of 2025, operating independently.
The aim of the new company is “to develop differentiating digital features in a faster and more efficient way,” indicates Martin Daum, Daimler Truck’s CEO.
Meanwhile, Martin Lundstedt, Volvo’s CEO, adds that both companies are “joining forces to offer customers a software-defined vehicle platform for trucks.”
The company will have its headquarters in the Swedish town of Gothenburg and will integrate assets and work equipment from both firms into a single entity focused on developing new digital systems for trucks and buses.
Additionally, the companies plan to build a plant near Stuttgart, in southwest Germany, to develop alternative propulsion systems for heavy trucks.
Volvo and Daimler Truck already collaborate in the field of fuel cells through the joint venture Cellcentric.
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