Daimler Trucks agrees to acquire majority stake in Torc Robotics to create technology powerhouse for automated trucks
BLACKSBURG/STUTTGART/PORTLAND — Daimler Trucks, a division in the Daimler Group, the inventor of the truck and world’s largest manufacturer of heavy and medium trucks, and Torc Robotics, a pioneer in autonomous driving solutions, are joining forces in a one-of-a-kind combination to commercialize highly automated trucks (SAE Level 4) on U.S. roads. Going beyond an OEM/supplier relationship, the companies signed an agreement today for Daimler AG’s subsidiary Daimler Trucks and Buses Holding Inc., to acquire a majority stake in Torc Robotics for an undisclosed sum. Closing of the acquisition is subject to approval from U.S. authorities.