Sweden-based software company, Coretura, is poised to transform the commercial vehicle industry according to Volvo Group and Daimler Truck.
The Coretura joint venture between Volvo and Daimler is expected to provide differentiating standalone digital vehicle applications for their products as well as establish a new industry standard.
“With Coretura, we are setting a clear strategic focus on software development for commercial vehicles,” said Daimler Truck CEO Karin Rådström.
“This is a big and really exciting step — not just for us, but for the entire industry and our customers. 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.”
Coretura will be led by a four-member Executive Management team comprising 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.
“Coretura represents a bold step forward in the evolution of commercial vehicles,” said Volvo Group President and CEO Martin Lundstedt.
“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.”
Coretura’s activities also include the specification and procurement of centralised high-performance control units dedicated for commercial vehicles and capable of handling large amounts of data. This will decouple software and hardware development cycles, allowing end customers to purchase and update digital applications wirelessly to enhance safety, efficiency and customer experience.
“This joint venture blends the agility of a start-up with the stability and expertise of our major shareholders,” said Coretura CEO Johan Lundén.
“We are proud and energised to lead the digital transformation in the commercial vehicle industry—backed by strong shareholder support and committed to shaping the industry’s future.”
Coretura is following a collaborative co-development approach with its customers, aiming to launch its first products in vehicles by the end of the decade.
Volvo Group and Daimler Truck will remain competitors and continue to differentiate their range of product and services offerings, including their respective digital solutions.
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.
Earlier this year, Volvo Group announced an acquisition.
In March, Daimler Truck named the Australia Pacific Dealer of the Year.
