PTC and Volvo Group Announce Digital Engineering Collaboration

Rhea-AI Summary

PTC and Volvo Group have announced a strategic collaboration focused on digital engineering, unifying their CAD platforms. This partnership positions PTC's Windchill® PLM and Creo® CAD software as the primary tools for Volvo Group's vehicle design. The collaboration aims to enhance product data reuse and promote a digital thread strategy, ultimately transforming product innovation processes. This initiative is expected to give Volvo a competitive edge in sustainable transportation solutions.

Positive

• Strengthened collaboration with Volvo Group, enhancing digital engineering capabilities.
• Unified CAD and PLM platforms expected to improve product innovation processes.
• Potential for increased competitive advantage in sustainable transport solutions.

Negative

• None.

BOSTON, Sept. 27, 2021 /PRNewswire/ -- PTC (NASDAQ: PTC) and the Volvo Group today announced plans to further increase collaboration around digital engineering. Volvo Group has decided to unify its CAD platforms, which positions PTC's products to serve as the primary CAD and PLM solutions used in the Volvo Group for complete vehicle design.

This world-class solution, which will leverage the full capabilities of PTC's Windchill® product lifecycle management (PLM) software and Creo® computer-aided design (CAD) software, is designed to promote collaboration across Volvo Group's PLM and CAD functions and significantly increase the reuse of digital product data across the Volvo Group.

Volvo Group, which offers trucks, buses, construction equipment, and power solutions for marine and industrial applications, embarked on a strategy to transform its IT architecture by consolidating PLM and CAD platforms to enable better leverage of product data across the value chain.

"Using one PLM and CAD platform will act as a key enabler in our digital engineering transformation," said Lars Stenqvist, CTO at Volvo Group. "Leveraging this foundation, we see great possibilities in connecting PTC's IOT and AR solutions into our digital thread strategy."

In addition to transforming its product innovation process, Volvo Group seeks to shape the transportation industry's future with technology and systems solutions that are safer, cleaner, and more efficient.

"By aligning with PTC around the CAD platform, we will work together to create a world-class capability that we expect will be a competitive advantage for years to come as we pursue the future landscape of sustainable transport and infrastructure at Volvo," said Stenqvist.

"By working together on a common vision, we have driven important improvements to the PTC product suite, and important improvements in enabling Volvo Group to bring great products to market," said Jim Heppelmann, President & CEO, PTC. "We are pleased to be a partner of choice for Volvo Group across its product development teams. The digital engineering approach that we will achieve together will serve as an example to companies around the globe."

About Volvo Group
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 almost 100.000 people and serves customers in more than 190 markets. In 2020, net sales amounted to about SEK 338 billion (EUR 33.6 billion). Volvo shares are listed on Nasdaq Stockholm.

About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

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Media Contacts

Volvo Group
Åsa Alström
Head of Strategic Communications
Volvo Construction Equipment
asa.alstrom@volvo.com

PTC
Corporate Communications
Gabrielle Farrell
gfarrell@ptc.com

PTC, Creo, Windchill, and the PTC logo are registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

 

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SOURCE PTC Inc.

FAQ

What is the collaboration between PTC and Volvo Group about?

PTC and Volvo Group are collaborating to unify their CAD platforms, strengthening digital engineering capabilities and enhancing product data reuse.

How will the PTC and Volvo partnership impact CAD and PLM solutions?

The partnership positions PTC's Windchill® and Creo® as primary tools for Volvo's vehicle design, promoting improved collaboration across PLM and CAD functions.

When was the PTC and Volvo Group collaboration announced?

The collaboration was announced on September 27, 2021.

What are the expected benefits of the PTC and Volvo collaboration?

The collaboration aims to enhance product innovation processes and provide a competitive advantage in sustainable transportation solutions.