Daimler Truck and Volvo intend to form software joint venture
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The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/Files
(Reuters) - German truck maker Daimler Truck and Sweden's Volvo intend to form a joint venture to develop a software-defined vehicle platform and dedicated truck operating system, the two companies said on Friday.
The new company would be a 50/50 joint venture, with the deal expected to close by the first quarter of 2025, according to a preliminary non-binding agreement.
(Reporting by Isabel Demetz, editing by Andrey Sychev)
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