DLA Piper advises Daimler Truck on planned digital transformation joint venture with Volvo Group

DLA Piper has advised Daimler Truck on a preliminary agreement with Volvo Group to establish a joint venture aimed at developing a common software-defined vehicle platform and dedicated truck operating system. This venture aims to provide a unified developer platform, allowing Daimler Truck, Volvo Group, and potential partners to offer unique digital vehicle features, ultimately enhancing customer efficiency and experience.

The joint venture will see Daimler Truck and Volvo Group each holding equal shares and operating as an independent entity while continuing to compete in other business areas. The headquarters of the new venture will be in Gothenburg, Sweden, and will incorporate existing assets and resources from both companies.

Currently, the agreement between Daimler Truck and Volvo Group is non-binding, with the final agreement expected within this year. The transaction is anticipated to close in Q1 2025, pending necessary examinations and approvals from 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) forming the core team. Additional support came from 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). 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 included Keisha-Sue Koerper (Legal M&A Cooperations), Heiko Zimmermann (M&A), and Thomas Scherzler (IP).

This collaboration marks a significant step towards the digital transformation of commercial vehicles, leveraging the strengths of both industry giants to develop cutting-edge solutions in the transportation sector.