Volvo Group and Daimler Truck launched Coretura AB, their joint venture aimed at transforming the commercial vehicle industry through a new software-defined vehicle platform and establishing a new industry standard.
Coretura will enable Volvo Group and Daimler Truck and other future customers to provide differentiating stand-alone digital vehicle applications for their products, according to a news release.
Following the binding joint venture agreements signed on Oct. 28, 2024, Volvo Group and Daimler Truck have obtained required regulatory approvals and have launched Coretura. Following the joint venture transaction, Coretura, based in Gothenburg, Sweden, began operations in the beginning of June.
Karin Radstrom, president and CEO of Daimler Truck said in the release, “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.”
Martin Lundstedt, president and CEO of the Volvo Group, added, “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. This venture underscores our commitment to not only advancing our products but also paving the way for sustainable and intelligent transportation solutions.”
Standardized, open platform
Coretura will be led by a four-member executive management team consisting of two members from each of the shareholders. Johan Lunden has been appointed as CEO coming from Volvo Group where he previously held responsibility for strategic product planning, project and innovation management.
As commercial vehicles are becoming more digital, the release said that the mission of Coretura is to build the non-differentiating core, a standardized and open software-defined vehicle platform and dedicated commercial vehicle operating system.
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.
