Daimler Truck and Volvo Group announced on Friday that they intend to set up a joint venture focused on developing architectures for the next generation of heavy trucks.

The two manufacturers explain that their 'joint venture' will be responsible for designing software and hardware for software-defined vehicles (SDV).

Daimler Truck and Volvo will own the new entity in equal shares, with the aim of finalizing the transaction during the first quarter of 2025. It will be based in Göteborg (Sweden).

Daimler Truck and Volvo had already announced in 2020 the creation of a joint venture focused on the production of fuel cells.

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