Commercial vehicle makers AB Volvo (VOLVY.PK) and Daimler Truck Holding AG (DTRUY) announced Tuesday the launch of their joint venture Coretura AB, a new software-defined vehicle platform. Coretura, based in Gothenburg, Sweden, began operations in the beginning of June 2025.
The companies noted that Coretura will enable them and other future customers to provide differentiating stand-alone digital vehicle applications for their products.
The launch follows the binding joint venture agreements signed by both Volvo Group and Daimler Truck on October 28, 2024. The companies now said they have obtained all required regulatory approvals.
Johan Lundén from Volvo Group has been appointed as CEO, and the JV is starting with around 50 employees. Coretura will be led by a four-member Executive Management team consisting of two members from each of the shareholders.
According to the firms, Coretura's mission is to build the non-differentiating core, a standardized and open software-defined vehicle platform and dedicated commercial vehicle operating system.
In addition, the JV will handle specification and procurement of centralized high-performance control units dedicated for commercial vehicles and capable of handling large amounts of data.
Karin Rådström, President and CEO of Daimler Truck, said, "With Coretura, we are setting a clear strategic focus on software development for commercial vehicles. 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."
Meanwhile, the companies said they will remain competitors and continue to differentiate their range of product and services offerings, including their respective digital solutions.
Coretura further invited new and traditional suppliers and partners to work together.
In Stockholm, AB Volvo shares were trading at 261.70 Swedish kronor, down 0.46 percent.
In Germany's XETRA, Daimler Truck shares were at 38.67 euros, down 1.05 percent.
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