Two OEMs with a history of collaboration announced their next joint step forward Tuesday when Volvo Group and Daimler Truck introduced Coretura AB.
According to the companies, Coretura is 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.
The OEMs say Coretura’s mission will be to build a non-differentiating core, a standardized and open software-defined vehicle platform and dedicated commercial vehicle operating system. Other activities will include the specification and procurement of centralized high-performance control units dedicated for commercial vehicles and capable of handling large amounts of data.
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Together, this will decouple software and hardware development cycles, the companies state, allowing end customers to purchase and update digital applications wirelessly ‘over the air,’ enhancing safety, efficiency and customer experience.
“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,” says Karin Rådström, president and CEO of Daimler Truck. “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.”
Adds Volvo Group President and CEO Martin Lundstedt, “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.”
This partnership is the third major collaboration between Daimler and Volvo in recent history. The duo also have a joint venture supporting hydrogen fuel cell development and a three-team partnership with International Motors’ parent company Traton to develop an electric vehicle charging grid in Europe.
Daimler also announced a partnership with Toyota last week to bring Mitsubishi Fuso and Hino together as a single new company.
Binding joint venture agreements for the new business were signed in October 2024 and all regulatory approvals have now been met. Coretura will be based in Gothenburg, Sweden, and began operations at the beginning of June. The company will be led by a four-member executive management team consisting of two members from each of the shareholders. Johan Lundén has been appointed as CEO coming from Volvo Group where he previously held responsibility for Strategic Product Planning, Project and Innovation management.
The company begins with nearly 50 employees and intends to grow stepwise, enabling shareholders to pool resources and invest in accordance with technical progress and achievement of milestones. Coretura thereby follows a collaborative co-development approach with its customers, aiming to launch its first products in vehicles by the end of the decade.
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“This joint venture blends the agility of a start-up with the stability and expertise of our major shareholders. We are proud and energized to lead the digital transformation in the commercial vehicle industry — backed by strong shareholder support and committed to shaping the industry’s future,” says Lundén.
But, the companies also note Volvo Group and Daimler Truck will remain competitors and continue to differentiate their range of product and services offerings, including their respective digital solutions, though Coretura is open to cooperation and invites new and traditional suppliers and partners who share its values to join in creating the future of the industry.
