Finance
Volvo Group, Daimler look to technology joint venture in bid to save costs
Published by Global Banking & Finance Review®
Posted on June 17, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 17, 2025
2 min readLast updated: January 23, 2026
Volvo and Daimler's joint venture, Coretura, aims to develop a cost-saving software-defined vehicle platform, reducing supplier reliance.
GOTHENBURG (Reuters) -European truckmaking rivals AB Volvo and Daimler Truck hope to cut costs and reduce reliance on suppliers by jointly developing a software-defined vehicle program, they said on Tuesday.
Fleets and truck manufacturers, like automakers, have been racing to produce technology-packed vehicles while also grappling with the need to reduce costs.
Truckmakers are currently heavily reliant on suppliers because their software is closely tied to hardware, but Daimler and Volvo's new business - called Coretura - aims to develop a software-defined vehicle platform and reduce that dependence.
The companies are looking to create an "industry standard", Daimler Trucks CEO Karin Radstrom told reporters.
"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", Radstrom said.
The Gothenburg-based venture will employ 50 employees to start, with the hope of first deliveries of its connectivity platform in 2027 and further deliveries towards the end of the decade.
"Everything in the vehicle industry is very much oriented around software and controlled by software", said Johan Lunden, a Volvo veteran and the newly appointed CEO of Coretura.
Software will play an increasingly vital role in achieving sustainability, productivity, and safety targets in the future, he added.
While rivals, Volvo Group and Daimler have collaborated on various businesses in recent years, such as within charging and hydrogen fuel cell development.
(Reporting by Marie Mannes in Gothenburg and Jesus Calero in Gdansk; Editing by Matt Scuffham)
The joint venture aims to cut costs and reduce reliance on suppliers by developing a software-defined vehicle program.
The new business is called Coretura, which focuses on developing a software-defined vehicle program.
Coretura will start with 50 employees and aims for initial deliveries of its connectivity platform by 2027.
Software is vital for achieving sustainability, productivity, and safety targets in the future of the vehicle industry.
Volvo and Daimler have collaborated on various projects, including charging infrastructure and hydrogen fuel cell development.
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