Volvo and Daimler Launch Software Joint Venture ‘Coretura’ to Cut Costs and Supplier Reliance

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European truck giants AB Volvo and Daimler Truck have announced the launch of a joint venture named Coretura, aimed at developing a software-defined vehicle platform to lower costs and reduce their heavy reliance on external suppliers.

The move comes as the truck industry—like the broader automotive sector—races to deliver more technology-integrated vehicles while facing mounting pressure to improve cost-efficiency and production timelines.

Currently, truck manufacturers are dependent on suppliers because vehicle software is tightly integrated with hardware. Coretura’s goal is to break that link and offer an industry-wide standard platform that truckmakers can build upon more independently.

“We’re very much dependent on suppliers, which drives both cost and sometimes delays,” said Daimler Trucks CEO Karin Radstrom. “We’re now exploring the next generation of software we need for vehicles.”

The joint venture will be based in Gothenburg, Sweden, and will initially employ 50 staff. The first deliveries of the connectivity platform are targeted for 2027, with broader implementation expected by the end of the decade.

Coretura will be led by Johan Lunden, a veteran from Volvo, who emphasized that software will be critical to achieving future goals for sustainability, safety, and productivity in commercial transportation.

Despite being long-time rivals, Volvo and Daimler have previously partnered on initiatives such as hydrogen fuel cell technology and vehicle charging infrastructure.

Amazon Extends Prime Day to Four Days from July 8 to 11

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Amazon.com has announced that its annual Prime Day sales event will be extended to four days this year, running from July 8 through July 11, doubling the two-day length of last year’s event.

Jamil Ghani, Amazon’s vice president of worldwide Prime, explained the extension is a response to member feedback requesting more time to shop the deals.

The longer Prime Day comes amid uncertainty in the U.S. retail market over tariffs affecting prices and product availability. According to Adobe Analytics, U.S. shoppers spent $14.2 billion during Prime Day 2024, marking an 11% increase year-over-year.

Amazon faces stiff competition from other major retailers such as Walmart, Target, and ByteDance’s TikTok Shop, which are all launching early sales events targeting back-to-school and back-to-college shoppers with personal electronics, apparel, and home goods.

To attract younger consumers, Amazon is also offering discounted Prime memberships for customers aged 18 to 24, alongside other benefits. Prime memberships generally cost $14.99 per month or $139 per year.

OpenAI Awarded $200 Million U.S. Defense Contract for AI Development

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OpenAI, the creator of ChatGPT, has secured a $200 million contract to develop advanced artificial intelligence tools for the U.S. Department of Defense, the Pentagon announced on Monday.

The contract involves creating prototype frontier AI capabilities aimed at tackling critical national security challenges across both warfighting and enterprise domains. The work will mainly take place in and around Washington, with an expected completion date set for July 2026.

OpenAI recently reported a surge in its annualized revenue run rate to $10 billion as of June, fueled by widespread AI adoption. Earlier this year, in March, OpenAI revealed plans to raise up to $40 billion in a funding round led by SoftBank Group, valuing the company at around $300 billion. The firm also reported having 500 million weekly active users by the end of March.

Separately, the White House’s Office of Management and Budget issued new guidance in April encouraging federal agencies to foster a competitive American AI marketplace, while exempting national security and defense systems from some regulations.