financetom
Business
financetom
/
Business
/
Volvo Group, Daimler look to technology joint venture in bid to save costs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Volvo Group, Daimler look to technology joint venture in bid to save costs
Jun 16, 2025 11:55 PM

GOTHENBURG, June 17 (Reuters) - European truckmaking

rivals AB Volvo and Daimler Truck hope to

cut costs and reduce reliance on suppliers by jointly developing

a software-defined vehicle program, they said on Tuesday.

Fleets and truck manufacturers, like automakers, have been

racing to produce technology-packed vehicles while also

grappling with the need to reduce costs.

Truckmakers are currently heavily reliant on suppliers

because their software is closely tied to hardware, but Daimler

and Volvo's new business - called Coretura - aims to develop a

software-defined vehicle platform and reduce that dependence.

The companies are looking to create an "industry standard",

Daimler Trucks CEO Karin Radstrom told reporters.

"We're looking at how we can move from our current reality

where we are very much dependent on our suppliers - which drives

both cost and sometimes timelines - and instead looking at

what's the next generation of software that we need to bring to

the vehicle", Radstrom said.

The Gothenburg-based venture will employ 50 employees to

start, with the hope of first deliveries of its connectivity

platform in 2027 and further deliveries towards the end of the

decade.

"Everything in the vehicle industry is very much oriented

around software and controlled by software", said Johan Lunden,

a Volvo veteran and the newly appointed CEO of Coretura.

Software will play an increasingly vital role in achieving

sustainability, productivity, and safety targets in the future,

he added.

While rivals, Volvo Group and Daimler have collaborated on

various businesses in recent years, such as within charging and

hydrogen fuel cell development.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Samsara Insider Sold Shares Worth $1,046,769, According to a Recent SEC Filing
Samsara Insider Sold Shares Worth $1,046,769, According to a Recent SEC Filing
Jun 21, 2024
03:35 AM EDT, 06/21/2024 (MT Newswires) -- Lara Caimi, President of Worldwide Field Operations, on June 17, 2024, sold 37,938 shares in Samsara (IOT) for $1,046,769. Following the Form 4 filing with the SEC, Caimi has control over a total of 1,151,447 shares of the company, with 1,151,447 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1642896/000141588924017720/xslF345X03/form4-06202024_110623.xml Price: 29.37, Change: -0.23, Percent Change:...
Samsara Insider Sold Shares Worth $2,828,995, According to a Recent SEC Filing
Samsara Insider Sold Shares Worth $2,828,995, According to a Recent SEC Filing
Jun 21, 2024
03:36 AM EDT, 06/21/2024 (MT Newswires) -- Sanjit Biswas, 10% Owner, Director, Chief Executive Officer, on June 17, 2024, sold 96,000 shares in Samsara (IOT) for $2,828,995. Following the Form 4 filing with the SEC, Biswas has control over a total of 2,234,299 shares of the company, with 2,234,299 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1642896/000141588924017717/xslF345X03/form4-06202024_110603.xml Price: 29.37, Change: -0.23, Percent Change:...
Presidio Property Trust Prices $1.74 Million Offering of Series D Preferred Stock
Presidio Property Trust Prices $1.74 Million Offering of Series D Preferred Stock
Jun 21, 2024
03:38 AM EDT, 06/21/2024 (MT Newswires) -- Presidio Property Trust ( SQFT ) said late Thursday it priced its public offering of 109,054 shares of its series D preferred stock at $16 apiece. The company expects gross proceeds from the offering, which is expected to close on or about June 24, of roughly $1.74 million. Price: 0.7749, Change: +0.03, Percent...
Uber Technologies Insider Sold Shares Worth $70,421,300, According to a Recent SEC Filing
Uber Technologies Insider Sold Shares Worth $70,421,300, According to a Recent SEC Filing
Jun 21, 2024
03:36 AM EDT, 06/21/2024 (MT Newswires) -- Dara Khosrowshahi, Director, Chief Executive Officer, on June 17, 2024, sold 1,000,000 shares in Uber Technologies ( UBER ) for $70,421,300. Following the Form 4 filing with the SEC, Khosrowshahi has control over a total of 1,266,114 shares of the company, with 1,266,114 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1543151/000156218024005207/xslF345X03/primarydocument.xml Price: 70.33, Change: +0.03,...
Copyright 2023-2025 - www.financetom.com All Rights Reserved