By David SachsDaimler Truck and Volvo Group will form a joint venture to develop a software-based manufacturing platform to build digitized heavy-duty vehicles. Both companies will use the platform to produce their own software-led trucks and buses, and the venture will also offer the service to other manufacturers, Daimler said. "It will allow us to build differentiating digital vehicle features with significantly greater speed and efficiency for our truck and bus customers around the globe," Daimler Truck Group Chief Executive Martin Daum said. Daimler Truck and Volvo will remain competitors with distinct products, and will use the platform to create separate end-user applications, Daimler said. Write to David Sachs at david.sachs@wsj.com(END) Dow Jones NewswiresMay 17, 2024 05:08 ET (09:08 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal May 17, 2024 09:21 UTC