Volvo Group and Daimler Truck partner to launch Coretura

On Tuesday, Volvo Group and Daimler Truck officially launched Coretura, a joint venture dedicated to developing a standardized software-defined vehicle platform for commercial vehicles. The launch followed binding agreements between the two companies, signed in October 2024. By early June, the companies obtained all required regulatory approvals and began operations in Gothenburg, Sweden.

Coretura aims to build a non-differentiating core software platform and dedicated commercial vehicle operating system, as OEMs jockey to position themselves at the forefront of digital transformation in the transportation industry.

“With Coretura, we are setting a clear strategic focus on software development for commercial vehicles,” said Karin Rådström, President and CEO of Daimler Truck in the release. “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’s activities include the specification and procurement of centralized high-performance control units designed specifically for commercial vehicles. These units will be capable of handling large amounts of data, allowing for decoupled software and hardware development cycles. A major benefit will enable end customers to purchase and update digital applications wirelessly “over the air.”

The joint venture will be led by a four-member Executive Management team composed of two representatives from each shareholder company. Johan Lundén, previously responsible for Strategic Product Planning, Project and Innovation management at Volvo Group, has been appointed CEO.

“This joint venture blends the agility of a start-up with the stability and expertise of our major shareholders,” said Lundén. “We are proud and energized to lead the digital transformation in the commercial vehicle industry—backed by strong shareholder support and committed to shaping the industry’s future.”

Despite the partnership, Volvo Group and Daimler Truck will remain competitors, continuing to differentiate their product and service offerings, including their respective digital solutions. Coretura is open to cooperation with new and traditional suppliers and partners who share its values.

Starting with approximately 50 employees, the company plans to grow incrementally, with its first products expected to launch in vehicles by 2030.

ACT Research: Trailer Orders Decline Seasonally in May

Preliminary net trailer orders in the U.S. dropped by over 2,300 units from April to May, a 26% decline to 6,600 units, according to the latest data from ACT Research. Despite the monthly decline, orders remained nearly 12% higher compared to May 2024. When seasonally adjusted, May’s order intake rises to 9,200 units, with final results expected later in June. ACT notes final order numbers typically fall within 5% of the preliminary data.

The May decline aligns with expected seasonal patterns, but broader concerns about market stability remain. “Lower May net order intake was expected, as it is one of the weakest order months of the annual cycle. More concerning, though, is this level of order acceptance does nothing to support backlog growth, particularly with the elevated cancellation rates reported in the past several months,” said Jennifer McNealy, director CV market research & publications at ACT Research in the release.

Multiple factors continue to cause trailer market headwinds for manufacturers and suppliers. Notably, weak for-hire truck market fundamentals, depressed used equipment valuations, and relatively full inventories. High interest rates and uncertainty surrounding potential policy shifts related to tariffs were also mentioned.

Looking ahead, ACT Research remains cautious. McNealy added, “With weak for-hire truck market fundamentals, low used equipment valuations, relatively full inventories, high interest rates, and the ambiguity of policy shifts still in play, ACT’s expectations for subdued build and order intake levels during 2025 remain intact.”