European truck manufacturing rivals AB Volvo and Daimler Truck are joining forces to establish a new technology joint venture named Coretura. This strategic collaboration aims to significantly reduce costs and decrease their reliance on external suppliers by developing a standardized software-defined vehicle platform, marking a pivotal step towards future-proofing their operations.
Trucking Giants Unite: Volvo and Daimler Form Tech Venture to Drive Down Costs
AB Volvo and Daimler Truck, long-standing competitors in the truckmaking industry, have announced a groundbreaking joint venture, Coretura. The initiative is designed to jointly develop a software-defined vehicle program, a move anticipated to yield substantial cost savings and lessen their current heavy dependence on third-party suppliers for software integration.
Karin Radstrom, CEO of Daimler Trucks, emphasized the strategic shift, stating, "We’re looking at how we can move from our current reality where we are very much dependent on our suppliers – which drives both cost and sometimes timelines – and instead looking at what’s the next generation of software that we need to bring to the vehicle." The ultimate goal is to establish an "industry standard" for software-defined vehicle platforms.
Key Takeaways
- The new joint venture between AB Volvo and Daimler Truck is named Coretura.
- Its primary focus is to develop a software-defined vehicle platform.
- The collaboration aims to achieve significant cost reductions and reduce reliance on external suppliers.
- First deliveries of Coretura’s connectivity platform are anticipated in 2027, with further developments expected by the end of the decade.
- Johan Lunden, a veteran from Volvo, has been appointed as the CEO of Coretura.
The Future of Trucking Technology
The Gothenburg-based venture will commence operations with an initial team of 50 employees. Johan Lunden, the newly appointed CEO of Coretura, highlighted the increasing importance of software in the automotive sector. "Everything in the vehicle industry is very much oriented around software and controlled by software," Lunden noted, adding that software will be crucial for achieving future sustainability, productivity, and safety targets.
Despite their rivalry, Volvo Group and Daimler have a history of collaboration on various projects, including advancements in charging infrastructure and hydrogen fuel cell development. This new joint venture underscores a growing trend in the industry where competitors pool resources to tackle shared challenges and drive technological innovation more efficiently.
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