Daimler Truck and Volvo Group announced Friday that they will form a joint venture to develop a software-defined heavy-duty vehicle platform.
According to the statement issued by the Swedish group, "The intention is to make the new joint venture a leading developer of standardized hardware and software." Furthermore, this initiative "will then enable Volvo Group and Daimler Truck and potentially other partners to provide differentiating digital vehicle features for its products ultimately enhancing customer efficiency and experience."
The companies stated that they intend to be 50/50 partners in the joint venture, and the venture will operate independently "with Volvo Group and Daimler Truck continuing to be competitors in all other areas of business."