DLA Piper has advised Daimler Truck on an agreement with Volvo Group to venture on a joint digital transformation.
The partnership will develop a common software defined vehicle platform and dedicated truck operating system, providing the basis for future software defined commercial vehicles.
With an aim of providing a common developer platform, this will enable Daimler Truck, Volvo Group and other potential partners to provide differentiating digital vehicle features for its product and, in turn, enhance customer experience and efficiency.
Through the planned joint venture, Daimler Truck and the Volvo Group have intentions to enter a partnership with equal shares.
This will operate as an independent entity, with Daimler Truck and Volvo Group continuing to be competitors in all other areas of business.
Headquarters are set to be in Gothenburg, Sweden, incorporating existing assets and resources of both companies into the new organisation.
The non-binding preliminary agreement is now signed, and a final agreement is expected within this year, subject to approvals by respective authorities and necessary examinations, the aim is to close the final transaction in Q1 2025.