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The Star
10 hours ago
- Automotive
- The Star
Volvo Group, Daimler look to technology joint venture in bid to save costs
FILE PHOTO: President and CEO of AB Volvo Martin Lundstedt stands in front of a Volvo truck, on the occasion of the publication of an interim report, in Gothenburg, Sweden, April 20, 2023. TT News Agency/Adam Ihse/File Photo GOTHENBURG (Reuters) -European truckmaking rivals AB Volvo and Daimler Truck hope to cut costs and reduce reliance on suppliers by jointly developing a software-defined vehicle program, they said on Tuesday. Fleets and truck manufacturers, like automakers, have been racing to produce technology-packed vehicles while also grappling with the need to reduce costs. Truckmakers are currently heavily reliant on suppliers because their software is closely tied to hardware, but Daimler and Volvo's new business - called Coretura - aims to develop a software-defined vehicle platform and reduce that dependence. The companies are looking to create an "industry standard", Daimler Trucks CEO Karin Radstrom told reporters. "We're looking at how we can move from our current reality where we are very much dependent on our suppliers - which drives both cost and sometimes timelines - and instead looking at what's the next generation of software that we need to bring to the vehicle", Radstrom said. The Gothenburg-based venture will employ 50 employees to start, with the hope of first deliveries of its connectivity platform in 2027 and further deliveries towards the end of the decade. "Everything in the vehicle industry is very much oriented around software and controlled by software", said Johan Lunden, a Volvo veteran and the newly appointed CEO of Coretura. Software will play an increasingly vital role in achieving sustainability, productivity, and safety targets in the future, he added. While rivals, Volvo Group and Daimler have collaborated on various businesses in recent years, such as within charging and hydrogen fuel cell development. (Reporting by Marie Mannes in Gothenburg and Jesus Calero in Gdansk; Editing by Matt Scuffham)
Straits Times
28-04-2025
- Straits Times
Three teens convicted in Sweden over shooting attack on Israeli defence firm
FILE PHOTO: Swedish police use a bomb-disposal robot at a shooting scene near an Israeli target, which the national broadcaster said was a unit of Israeli company Elbit Systems, in Gothenburg, Sweden October 10, 2024. TT News Agency/Adam Ihse via REUTERS Three teens convicted in Sweden over shooting attack on Israeli defence firm STOCKHOLM - Three teenagers were convicted in Sweden on Monday of being involved in a shooting attack on an office of Israeli defence contractor Elbit Systems in Gothenburg last year. A fourth boy, who was accused of actually carrying out the attack by opening fire at the entrance to the building in October, was 13 at the time - too young for him to stand trial under Swedish law. No one was injured in the shooting. The verdict did not mention any motive for the attack. One boy who was 15 at the time was found guilty of instigating attempted murder and sentenced to 20 months of juvenile detention, the Gothenburg District Court said in its verdict. The court said he had persuaded the perpetrator to shoot, knowing there was a considerable risk someone could be killed. The boy's lawyer declined to comment on the verdict. The two other teenage defendants were acquitted of being accessory to attempted murder but were found guilty of the lesser charges of being accessory to threats and weapons crime and of involving an underage person. Swedish police in May last year said they had stepped up security around Israeli and Jewish interests in the Nordic country after officers on patrol heard suspected gunshots near Israel's embassy in Stockholm. Sweden has seen an epidemic of gun violence in recent years, primarily driven by criminal gangs. The country's minimum age for criminal responsibility is 15. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
