DLA Piper has advised Daimler Truck on a preliminary agreement with Volvo Group to establish a joint venture to develop a common software-defined vehicle platform and dedicated truck operating system, providing the basis for future software-defined commercial vehicles.

The goal is to provide a common developer platform, enabling Daimler Truck, Volvo Group and potentially other partners to provide differentiating digital vehicle features for its products ultimately enhancing customer efficiency and experience.

Daimler Truck and Volvo Group intend to enter into a partnership with equal shares in the planned joint venture, which will operate as an independent entity, with Daimler Truck and Volvo Group continuing to be competitors in all other areas of business. The joint venture is set to be headquartered in Gothenburg, Sweden, incorporating existing assets and resources of both companies into the new organization.

The now signed preliminary agreement is non-binding. A final agreement is expected within this year, with the goal to close the final transaction in Q1 2025, subject to necessary examination and approvals by the respective authorities.

The DLA Piper team was co-led by Corporate/M&A partners Dr Tim Arndt (New York) and Dr Benjamin Parameswaran (Hamburg) with senior associate Sophie von Mandelsloh and associate Lea Reifers (both Corporate/M&A, Hamburg) in the core team.

Partners Dr Burkhard Führmeyer (IP, Frankfurt), Sylvia Ebersberger (Commercial, Munich), Dr Justus Herrlinger (Antitrust), Sebastian Decker (Corporate/M&A; both Hamburg) and senior associate Eike Bodo Matthes (IP, Frankfurt) as well as from Sweden partner Mathias Berggren and senior associate Mikael Hagström (both Corporate/M&A, Stockholm) were also involved.

The Daimler Truck team was led by Oliver Haakshorst (Legal M&A Cooperations) and supported by Keisha-Sue Koerper (Legal M&A Cooperations), Heiko Zimmermann (M&A), and Thomas Scherzler (IP).