(Reuters) - German truck maker Daimler (OTC:MBGAF) Truck and Sweden's Volvo (OTC:VLVLY) intend to form a joint venture to develop a software-defined vehicle platform and dedicated truck operating system, the two companies said on Friday.
The new company would be a 50/50 joint venture, with the deal expected to close by the first quarter of 2025, according to a preliminary non-binding agreement.