H.C.
The agreement is not legally binding, and is anticipated to close in the first quarter of 2025.
The JV will function as a separate business with its headquarters located in Gothenburg. With software taking the lead, both companies will use the new platform to manufacture their own trucks and buses.
Volvo and Daimler will continue to be rivals and provide unique end-user applications, while their offerings will differ.
The platform will also be available for usage by other manufacturers.
"It will enable us to develop unique elements for 'digital' trucks and buses more quickly and efficiently, which will be available to our customers worldwide," Martin Daum, CEO of Daimler, stated.
source: marketwatch.com
The JV will function as a separate business with its headquarters located in Gothenburg. With software taking the lead, both companies will use the new platform to manufacture their own trucks and buses.
Volvo and Daimler will continue to be rivals and provide unique end-user applications, while their offerings will differ.
The platform will also be available for usage by other manufacturers.
"It will enable us to develop unique elements for 'digital' trucks and buses more quickly and efficiently, which will be available to our customers worldwide," Martin Daum, CEO of Daimler, stated.
source: marketwatch.com
