GOTHENBURG, Sweden, June 17, 2025 — Volvo Group and Daimler Truck, both leading companies in the commercial vehicle sector, have announced the creation of Coretura AB. This joint venture aims to revolutionize the industry by developing a new software-defined vehicle platform, thereby establishing a new benchmark. Coretura will empower Volvo Group, Daimler Truck, and other future clients to deliver unique, independent digital vehicle applications for their respective products.

Following the legally binding joint venture agreements signed on October 28, 2024, Volvo Group and Daimler Truck have secured all necessary regulatory approvals and have now initiated Coretura. After the joint venture transaction, Coretura, headquartered in Gothenburg, Sweden, commenced operations at the start of June 2025.

Karin Rådström, President and CEO of Daimler Truck, stated, “Coretura allows us to strategically concentrate on software development for commercial vehicles. This represents a significant and exciting advancement, not only for us but also for the entire industry and our customers. Together, we are initiating a digitally driven future for trucks and buses, which will make commercial vehicles more intelligent, connected, and efficient.”

Martin Lundstedt, President and CEO of the Volvo Group, added, “Coretura is a significant leap forward in the evolution of commercial vehicles. By utilizing advanced technology and collaborative innovation, we are establishing the foundation for a new era of connectivity and efficiency within the industry. This venture highlights our dedication to enhancing our products and paving the way for sustainable and smart transportation solutions.”

Coretura will be managed by a four-member Executive Management team, with two members from each shareholder company. Johan Lundén has been appointed as CEO, joining from Volvo Group where he was previously responsible for Strategic Product Planning, Project and Innovation management.

Unlocking the digital future of commercial vehicles

As commercial vehicles become increasingly digital, Coretura’s mission is to develop a standardized and open software-defined vehicle platform and a dedicated commercial vehicle operating system for the non-differentiating core.

Coretura will also be responsible for specifying and procuring centralized high-performance control units designed for commercial vehicles, capable of processing large volumes of data. This will separate software and hardware development cycles, enabling end customers to wirelessly purchase and update digital applications “over the air,” thereby improving safety, efficiency, and the customer experience.

“This joint venture combines the flexibility of a start-up with the stability and expertise of its major shareholders. We are proud and excited to spearhead the digital transformation within the commercial vehicle industry, backed by strong shareholder support and committed to shaping the industry’s future,” said Johan Lundén, CEO of Coretura.

Coretura will begin with approximately 50 employees and expand progressively. This approach allows shareholders to consolidate resources and invest based on technical progress and milestone achievements. Coretura will employ a collaborative co-development approach with its customers, with the goal of launching its initial products in vehicles by the end of the decade.

Volvo Group and Daimler Truck will continue to operate as competitors and will maintain differentiated product and service offerings, including their respective digital solutions.

Coretura is open to collaboration and invites new and established suppliers and partners who share its values to participate in shaping the industry’s future.

June 17, 2025

Contact Volvo Group:
Claes Eliasson, +46 76 553 7229,
 
Contact Daimler Truck:
Paul Mandaiker, +49 176 30999267,

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The Volvo Group fosters prosperity through transport and infrastructure solutions, providing trucks, buses, construction equipment, power solutions for marine and industrial purposes, financing, and services that enhance customer uptime and productivity. Established in 1927, the Volvo Group is dedicated to shaping a sustainable future for transport and infrastructure. Headquartered in Gothenburg, Sweden, the Volvo Group employs over 100,000 people and serves customers in nearly 190 markets. In 2024, net sales totaled SEK 527 billion (EUR 46 billion). Volvo shares are traded on Nasdaq Stockholm.

This information was provided by Cision

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