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Volvo Group and Daimler Truck sign binding agreement for joint venture to develop software-defined vehicle platform

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Volvo Group and Daimler Truck have signed a binding agreement to establish a new 50/50 joint venture to develop a software-defined vehicle platform for heavy duty vehicles and drive the industry transformation.The new company aims to set an industry standard with headquarters in Gothenburg, Sweden.The common goal of the partners is to develop a truck operating system and to offer the joint venture’s brand- and versatile application-agnostic products to other commercial vehicle OEMs.Volvo Group and Daimler Truck will remain competitors in all other business areas and will continue to focus on an independent product and service offering, including the respective differentiating digital customer offerings.

GOTHENBURG, Sweden and LEINFELDEN-ECHTERDINGEN, Germany, Oct. 28, 2024 /PRNewswire/ — As announced in May this year, Volvo Group and Daimler Truck intend to create 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 two leading companies in the commercial vehicle industry have now signed a binding agreement to establish the joint venture and are working towards setting up the company that will be headquartered in Gothenburg, Sweden.

The software-defined vehicle platform will enable Volvo Group and Daimler Truck and potential other future customers of the joint venture to provide stand-alone digital vehicle functions for their products. 

Leading the digital transformation

“The signing demonstrates our joint commitment to lead the digital transformation of our industry. The software and hardware from this joint venture will be crucial for achieving unprecedented levels of safety, comfort, and efficiency for our customers,” says Karin Rådström, CEO of Daimler Truck.

Martin Lundstedt, President and CEO of the Volvo Group, adds: “We are joining forces to redefine software architecture and pioneer a new era of self-optimizing trucks. Together we are removing complexity to allow our customers to unlock higher levels of connectivity, safety and efficiency and continually push for a greater performance. It is a revolutionary response to the challenges of our modern world, and we are proud to be setting the industry standard.”

The joint venture’s activities will include the specification and procurement of centralized high-performance control units dedicated for commercial vehicles and capable of handling large amounts of data. The new company will develop an operating system and tools which vehicle manufacturers can use as a basis to develop their own differentiating digital vehicle features. This will decouple software and hardware development cycles in the future and enable customers to purchase and update digital applications wirelessly ‘over the air’, ultimately enhancing customer efficiency and experience. 

Volvo Group and Daimler Truck will remain competitors and continue to differentiate their complete product and services offerings, including their respective digital solutions.

The transaction for the joint venture is expected to be completed in the first half of 2025, subject to obtaining all required regulatory approvals.

Link to high resolution images

Journalists wanting further information, please contact:
Claes Eliasson, Head of Media Relations
+46 76 553 7229
press@volvo.com

For more information, please visit volvogroup.com 
For frequent updates, follow us on X: @volvogroup

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 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ab-volvo/r/volvo-group-and-daimler-truck-sign-binding-agreement-for-joint-venture-to-develop-software-defined-v,c4057174

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Volvo Group and Daimler Truck sign binding agreement for joint venture

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Trip.Biz Unveils New Product Matrix to Digitalise Business Travel for the Japanese Market

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TOKYO , Oct. 28, 2024 /PRNewswire/ — Trip.com Group’s corporate travel management brand, Trip.Biz, recently hosted its annual conference, ‘Trip.Biz Transform 2024,’ in Singapore. The event convened approximately 200 corporate clients, partners, and industry leaders from across the Asia-Pacific region. A highlight of the conference was the unveiling of the ‘Trip.Biz Product Matrix’, a suite of innovative solutions designed to optimise every aspect of corporate travel management. Representatives from Tokyo Masters, Trip.Biz’s local partner in Japan, also attended this event.

Japan’s Travel Management Company (TMC) market is highly fragmented and lacks digital maturity, presenting significant challenges for companies. Travel managers often navigate multiple sites to find suitable options, leading to inefficiencies. Additionally, the traditional reliance on offline services and bookings is increasingly incompatible with the needs of businesses that require digital transformation.

Trip.Biz maximises convenience through a customised online business travel booking platform for managers, travel bookers, and travellers. By offering the All-in-One Digital booking tools, Trip.Biz has streamlined the business travel management and sourced the best price for travel managers. Travellers can now book their flights, cars, trains, and hotels in a single platform, with instant online confirmation, no matter where their business takes them.

The ‘Trip.Biz Product Matrix’ is a comprehensive suite designed to optimize corporate travel management. For business travel management, Trip.Biz Online Booking Tool (OBT) and Trip.Biz App are designed to provide consistent global experience, offering features tailored to the needs of various markets. Covering over 10,000 cities worldwide, the platform consolidates content from multiple suppliers, reducing the need to switch between different service providers.

During the panel session themed “Driving Change: Global Reach, Local Focus,” representative from Tokyo Masters remarked, “For companies with primarily local travel, a local travel management company (TMC) offers personalized service and local expertise. For extensive international travel, a global TMC provides a wide network and advanced technology. The best choice depends on the company’s travel needs, budget, and resources, with some opting for a hybrid approach.”

Trip.Biz has established a mature partnership with its local partner, Tokyo Masters. By combining cutting-edge Online Booking Tool (OBT) technology with Tokyo Masters’ nearly 50 years of experience in the Japanese market, Trip.Biz offers a comprehensive range of global and localised content. Through this tech-empowered human service solution, Trip.Biz has been providing meticulous Japanese-style service to over 150 corporate clients in Japan.

With its all-in-one digital solution, Trip.Biz is committed to delivering top-tier services to both local and global clients, driving the digital transformation of business travel.

About Trip.Biz

Trip.Biz, a digital TMC powered by Trip.com Group and headquartered in Singapore, has been elevating business travel management since 2006 with human-centric technology, rich inventory, and sustainable solutions—all on one platform.

Trusted by over 15,000 large-scale corporations and more than 1,000,000 small to medium-sized enterprises globally, Trip.Biz continues to expand its reach, offering round-the-clock global customer service to cater to clients across different time zones.

Contact:
Biz_MKT@trip.com

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SOURCE Trip.Biz

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KBR Raises $1.3M for Important Causes at 18th Annual Charity Golf Tournament

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HOUSTON, Oct. 28, 2024 /PRNewswire/ — KBR (NYSE: KBR) announced it raised $1.3 million for deserving charities and community groups at its 18th annual charity golf tournament. The Kingwood Country Club in Kingwood, Texas, was once again the backdrop for the event, held this year on Monday, October 21, and hosted by KBR’s early career professionals’ group IMPACT.

“At KBR, we do things that matter, not only through the work we do with our clients but also through our active community engagement and support,” said KBR President and CEO Stuart Bradie. “The KBR Charity Golf Tournament is a shining example of our commitment to being a positive force of change in our communities. It is an honor to once again support these fantastic organizations that do so much in health care, public safety education, environmental sustainability, and other areas. My thanks to them for their vital work and also to all our tournament volunteers and staff who made the event a success.”

Since 2007, the KBR Charity Golf Tournament has raised more than $11.7 million. Each year, funds raised through the tournament go to organizations that align with KBR’s vision and values. This year’s recipients are:

Angel Flight South CentralBuffalo Bayou PartnershipCamp For AllThe Chester Pitts Charitable FoundationHouston Fire Department Operation: Stocking Stuffer Toy DriveHouston Police Department Greater Houston Police Activities LeagueHouston WildernessMarine Corps Scholarship FoundationPTSD Foundation of AmericaSt. Baldrick’s FoundationSt. Jude Children’s Research Hospital

For more information about the event, visit charitygolf.kbr.com or search KBR’s social media platforms using #KBRCharityGolf.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 37,000 people worldwide with customers in more than 80 countries and operations in over 30 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

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SOURCE KBR, Inc.

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LF Decentralized Trust Adds HKMA, Mastercard, and More as Members

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Spotlights Line-up of New Projects, Releases, Labs, and Deployments at First Meeting of Global Community at Member Summit

SAN FRANCISCO and HONG KONG, Oct. 28, 2024 /PRNewswire/ –Today, Linux Foundation Decentralized Trust (LF Decentralized Trust), the premier open source foundation for decentralized technology ecosystems, announced Gala Games, Mastercard, Qila, and Stellar as additional general members. In addition, Hong Kong Monetary Authority (HKMA) has joined as an associate member. 

The involvement and investment from these additional members will be valuable as we scale LF Decentralized Trust

With HKMA, there are now a total eight central banks and financial authorities that are associate members of LF Decentralized Trust. As members, they play a valuable role in defining the technical requirements for Central Bank Digital Currencies (CBDCs) and encouraging consistent development and application of common components in projects worldwide. This work is on display in sessions like the Project Ensemble roundtables taking place during Hong Kong Fintech Week, which features contributions and insights by Daniela Barbosa, General Manager of Decentralized Technologies at the Linux Foundation and Executive Director of LF Decentralized Trust. 

“As we continue to develop and enhance the Ensemble Sandbox, the HKMA is proud to support the Linux Foundation Decentralized Trust as a founding member,” said George Chou, Chief Fintech Officer, Hong Kong Monetary Authority. “This initiative aligns perfectly with Project Ensemble’s commitment to fostering innovation through open-source technologies. By leveraging decentralised technology in the Sandbox, the HKMA aims to enhance the efficiency, transparency, security and interoperability of the tokenisation market in Hong Kong. We believe that collaboration within this vibrant ecosystem can promote meaningful advancements in financial services, ultimately benefiting all stakeholders.”

These new members joined in time for LF Decentralized Trust Member Summit, the first convening of the organization’s global member community. Member Summit is a member-only forum for discussing the growing line-up of LF Decentralized Trust projects, labs, and deployments and engaging the global community in planning for the upcoming year. As a lead-up to the summit, the technical leadership of LF Decentralized Trust projects gathered for a two-day, invite-only Maintainer Days event to share knowledge, collaborate, and strategize project roadmaps.

The Member Summit agenda featured speakers from around the world sharing development and deployment updates and lessons, including the latest on multiple new labs and projects as well as deep dives into cross chain, token, and privacy requirements and technologies. 

“The creation of LF Decentralized Trust has created a groundswell of interest and action from new and existing members and project communities,” said Barbosa. “There is a robust pipeline of proposals for new technologies to come under our umbrella as new projects, labs, and updates, reflecting the excitement for a neutral host for this next generation market infrastructure. The involvement and investment from these additional members will be valuable as we look to scale LF Decentralized Trust to meet the needs of the community and the market.”

New General Member Quotes

The support of LF Decentralized Trust’s members is what makes it a neutral home for technical collaboration and innovation:

Gala Games

“Our membership in LF Decentralized Trust and collaboration with the Hyperledger Fabric community represent a groundbreaking moment in Gala’s journey to reshape entertainment through decentralized technology,” said Eric Schiermeyer, founder and CEO of Gala Games. “With GalaChain, we’re creating a blockchain specifically designed for the worlds of gaming, film, and music—an industry-first. We’re excited to work with the best in the field, driving innovation and setting the standard for Web3 entertainment.”

Mastercard

“Mastercard and the Linux Foundation share a common vision to drive innovation, set new standards for digital transactions, and foster a more inclusive and efficient digital economy,” said Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard. “As a founding member of the Linux Foundation Decentralized Trust, we’re excited to bring our expertise and Multi-Token Network (MTN) solution together to advance secure, scalable, and interoperable solutions that support the future of global financial applications and services.”

Qila

“Qila.io is excited to become a member of the Linux Foundation Decentralized Trust, contributing to the transformative journey of Web3 infrastructure, where decentralized solutions are reshaping value creation,” stated Sid Ugrankar, CEO of Qila. “By joining this esteemed initiative, we are committed to empowering enterprises, developers, and communities to seamlessly adopt blockchain and tokenization technologies. Our focus is on fostering innovation and transparency to support a more secure and inclusive digital ecosystem, driving impactful changes, and helping to build the decentralized economy of tomorrow.”

Stellar

“The Stellar Development Foundation is joining LF Decentralized Trust because it aligns with the foundation’s mission to create equitable access to the global financial system through blockchain technology,” said Stellar Development Foundation CEO Denelle Dix. “Being a part of LF Decentralized Trust gives the Stellar Development Foundation the opportunity to collaborate with other leaders in blockchain to shape this technology and deliver real world utility that solves problems for people.”

About Linux Foundation Decentralized Trust

LF Decentralized Trust is the neutral home for the open development of technologies that empower organizations to innovate with secure and resilient code. It is the Linux Foundation’s flagship organization for a broad range of technologies and standards that deliver the transparency, reliability, security, and efficiency required for a digital-first economy. Supported by a diverse, global base of members and communities, LF Decentralized Trust champions open source best practices across a growing ecosystem of blockchain, ledger, identity, cryptographic, and related technologies. To learn more, visit: www.lfdecentralizedtrust.org.

About the Linux Foundation

The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects, including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, PyTorch, RISC-V999, SPDX, Zephyr, and more, are critical to the world’s infrastructure. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

Contact:
Emily Fisher
LF Decentralized Trust
PR@lfdecentralizedtrust.org

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SOURCE LF Decentralized Trust

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