Daimler Truck and Volvo intend to form software joint venture

By Thomson Reuters May 17, 2024 | 3:36 AM

(Reuters) – German truck maker Daimler Truck and Sweden’s Volvo intend to form a joint venture to develop a software-defined vehicle platform and dedicated truck operating system, the two companies said on Friday.

The new company would be a 50/50 joint venture, with the deal expected to close by the first quarter of 2025, according to a preliminary non-binding agreement.

(Reporting by Isabel Demetz, editing by Andrey Sychev)