Volvo Group and Daimler Truck on Tuesday launched a joint venture aimed at establishing a new software-defined vehicle platform as a new industry standard.
Following the binding joint venture agreements signed in October, Volvo Group and Daimler Truck have obtained all required regulatory approvals and have now launched the new company named Coretura. Based in Gothenburg, Sweden, Coretura began operations this month.
Coretura's mission is to build the non-differentiating core, a standardized and open software-defined vehicle platform and dedicated commercial vehicle operating system.
"With Coretura, we are setting a clear strategic focus on software development for commercial vehicles," said Karin Rådström, president and CEO of Daimler Truck. "This is a big and really exciting step — not just for us, but for the entire industry and our customers. Together we are starting the digital-driven future of trucks and buses, ultimately making commercial vehicles smarter, more connected, and more efficient than ever before."
Volvo Group President and CEO Martin Lundstedt added that Coretura represents a bold step forward in the evolution of commercial vehicles.
"By leveraging cutting-edge technology and collaborative innovation, we're setting the stage for a new era of connectivity and efficiency in the industry," he said. "This venture underscores our commitment to not only advancing our products but also paving the way for sustainable and intelligent transportation solutions."
Coretura will be led by a four-member Executive Management team consisting of two members from each of the shareholders. Johan Lundén has been appointed as CEO coming from Volvo Group where he previously held responsibility for Strategic Product Planning, Project and Innovation management.
Coretura's activities also include the specification and procurement of centralized high-performance control units dedicated for commercial vehicles and capable of handling large amounts of data. This will decouple software and hardware development cycles, allowing end customers to purchase and update digital applications wirelessly 'over the air,' enhancing safety, efficiency and customer experience.
Volvo Group and Daimler Truck will remain competitors and continue to differentiate their range of product and services offerings, including their respective digital solutions.
