Latest news with #commercialVehicles
Wall Street Journal
18 hours ago
- Automotive
- Wall Street Journal
Volvo, Daimler Truck Launch Vehicle Software Joint Venture
STOCKHOLM–Swedish truck maker Volvo and German peer Daimler Truck DTG -0.44%decrease; red down pointing triangle have launched a new joint venture that will develop a software-based manufacturing platform to build digitized commercial vehicles. The launch of Coretura follows an agreement last year to move ahead with the project. The formation of the jointly-owned company is headquartered in Gothenburg, Sweden.
Yahoo
19 hours ago
- Automotive
- Yahoo
Volvo Group and Daimler Truck launch Coretura - a Joint Venture to unlock the digital future of commercial vehicles
GOTHENBURG, Sweden, June 17, 2025 /PRNewswire/ -- Volvo Group and Daimler Truck, two of the leaders in the commercial vehicle industry, announce the launch of Coretura AB, their joint venture aimed at transforming the commercial vehicle industry through a new software-defined vehicle platform and establishing a new industry standard. Coretura will enable Volvo Group and Daimler Truck and other future customers to provide differentiating stand-alone digital vehicle applications for their products. Following the binding joint venture agreements signed on October 28, 2024, Volvo Group and Daimler Truck have obtained all required regulatory approvals and have now launched the new company Coretura. Following the joint venture transaction, Coretura, based in Gothenburg, Sweden, began operations in the beginning of June 2025. Karin Rådström, President and CEO of Daimler Truck: "With Coretura, we are setting a clear strategic focus on software development for commercial vehicles. 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." Martin Lundstedt, President and CEO of the Volvo Group, adds: "Coretura represents a bold step forward in the evolution of commercial vehicles. 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 will be led by a four-member Executive Management team consisting of 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. Unlocking the digital future of commercial vehicles As commercial vehicles are becoming more digital, the mission of Coretura is to build the non-differentiating core, a standardized and open software-defined vehicle platform and dedicated commercial vehicle operating system. Coretura's activities also include the specification and procurement of centralized 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 'over the air,' enhancing safety, efficiency and customer experience. "This joint venture blends the agility of a start-up with the stability and expertise of our major shareholders. 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." says Johan Lundén, CEO of Coretura. Starting with around 50 employees, Coretura is set to grow stepwise. This allows the shareholders to pool resources and invest in accordance with technical progress and achievement of milestones. Coretura thereby follows 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. June 17, 2025 Contact Volvo Group:Claes Eliasson, +46 76 553 7229, press@ Contact Daimler Truck:Paul Mandaiker, +49 176 30999267, For more information, please visit For frequent updates, follow us on LinkedIn The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm. This information was brought to you by Cision The following files are available for download: Press release - Volvo Group and Daimler Truck launch Coretura - a Joint Venture to unlock the digital future of commercial vehicles 250617-volvo-group-coretura View original content: SOURCE AB Volvo
Entrepreneur
06-05-2025
- Automotive
- Entrepreneur
Vehicle Registration in April Recorded Around 3% Growth: FADA
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. As many as 2.29 million vehicles were registered in April in India, recording a 3 percent year-on-year growth. The vehicles registered in the same period last year were 2.22 million, according to data collated by industry body FADA and the road ministry's VAHAN portal. As per the data, the increase in registration was due to a modest rise in sales in the passenger vehicle and two-wheeler segments. The commercial vehicle registrations, however, recorded a decline from the previous month's 94,764 units to April's 90,558 units. The passenger vehicle sales showed Y-o-Y growth of 1.55 per cent, while two-wheeler sales increased by 2.3 per cent. In March 2025, the two-wheelers recorded a sale of 1.51 million units, whereas in April, the sale grew to 1.69 million. According to industry experts, the two-wheeler industry's overall volume in FY2025- 26 is likely to overtake the previous high of 21-24 million units in FY2019 before the COVID-19 pandemic hit. "For FY2025- 26, lower interest rates on loans translate into reduced EMI for consumers and will enhance the affordability of two-wheelers. The savings from income tax rebates will also positively affect consumer sentiments. Overall growth momentum in the domestic market, we are expecting, is likely to be positive like last year," KN Radhakrishnan, director and chief executive officer, TVS Motor, had said during the earnings call. The positive outlook was also seen in the retail sales of three-wheelers and tractors. While three-wheelers' retail sales recorded a growth of 25.5 per cent, tractors reported 7.6 per cent growth. In contrast, retail sales of commercial vehicles saw a dip of 1.05 per cent, falling to 90,558 units from 91,516 units in April 2024. In the coming months as well, commercial vehicles are likely to trade flat, weighed down by a high-base effect, slower e-commerce activity, and intensifying competition from electric three-wheelers. "April's commercial vehicles segment faced a 1.05 per cent Y-o-Y decline and a 4.44 per cent M-o-M contraction following OEM-led price increases against stagnant freight rates and fleet utilisation. Dealer feedback highlights that advance purchases in March resulted in elevated carryover stocks, while holiday calendars dampened fresh enquiries and delayed conversions, particularly in the SCV cargo category, where price and product gaps have weighed heavily. Conversely, the bus segment exhibited resilience, underpinned by strong school-transport and staff-mobility demand. Although financing availability remains broadly stable, enhanced support for first-time users will be critical to reignite momentum," said C S Vigneshwar, president, FADA. Overall, the auto Industry will need to balance demand amid event-driven tailwinds against customer-level liquidity constraints and seasonal softness to sustain momentum in the coming months. "May's agricultural cycle is concluding on a strong note, underpinned by healthy crop prices and robust mandi procurement. The IMD's forecast of an above-normal southwest monsoon bodes well for rural incomes, farm-sector growth, and downstream demand, while a well-distributed rainy season is critical to containing food inflation. At the same time, Kantar's Rural Barometer and GroupM data signal heightened consumer selectivity in rural India— household spending has outpaced income growth, and inflationary pressures are tempering discretionary purchases. Meanwhile, the Reserve Bank's recent bond purchases are set to inject surplus liquidity into the banking system, paving the way for lower lending rates and enhanced auto-loan affordability," said Vigneshwar.
