Volvo Group and Daimler Truck have officially launched Coretura, a joint venture dedicated to developing a standardized software-defined vehicle platform for commercial vehicles. This venture comes after binding agreements were signed by the two companies in October 2024, with all necessary regulatory approvals obtained by early June, allowing operations to commence in Gothenburg, Sweden.
Coretura’s primary goal is to create a non-differentiating core software platform and a specialized commercial vehicle operating system. As the transportation industry undergoes digital transformation, Original Equipment Manufacturers (OEMs) are striving to position themselves at the forefront of innovation. The venture aims to make commercial vehicles smarter, more connected, and more efficient than ever before.
Karin RĂĄdström, President and CEO of Daimler Truck, expressed excitement about the strategic focus on software development for commercial vehicles, stating, “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.”
Coretura’s activities will involve specifying and procuring centralized high-performance control units designed specifically for commercial vehicles. These units will handle large amounts of data, allowing for separate software and hardware development cycles. Customers will benefit from the ability to purchase and update digital applications wirelessly “over the air.”
The joint venture will be led by a four-member Executive Management team consisting of two representatives from each shareholder company. Johan Lundén, previously responsible for Strategic Product Planning, Project, and Innovation management at Volvo Group, has been appointed as CEO. Lundén expressed enthusiasm for leading the digital transformation in the commercial vehicle industry, emphasizing the blend of start-up agility with shareholder support and industry expertise.
Despite their partnership, Volvo Group and Daimler Truck will remain competitors, continuing to differentiate their product and service offerings, including their digital solutions. Coretura is open to collaborating with new and traditional suppliers and partners who share its values.
With an initial team of approximately 50 employees, Coretura plans to grow gradually, with its first products expected to launch in vehicles by 2030.
In other industry news, preliminary net trailer orders in the U.S. experienced a decline of over 2,300 units from April to May, representing a 26% decrease to 6,600 units. Despite the monthly decline, orders remained nearly 12% higher compared to May 2024. ACT Research noted that the May decline aligns with expected seasonal patterns, but concerns about market stability persist.
Factors contributing to trailer market headwinds include weak for-hire truck market fundamentals, depressed used equipment valuations, and high interest rates. Uncertainty surrounding potential policy shifts related to tariffs also adds to the challenges faced by manufacturers and suppliers in the industry.
Looking ahead, ACT Research remains cautious about subdued build and order intake levels in 2025, citing weak truck market fundamentals, low used equipment valuations, high interest rates, and policy uncertainties as ongoing challenges.
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