Daimler AG buys Majority Stake in Self driving trucks startup Torc Robotics
Daimler AG going to acquire a majority stake in self-driving truck Torc Robotics to develop autonomous truck vehicles. The Financial terms of the deal were not disclosed.
Based in Blacksburg, Virginia, Torc will help Daimler to accelerate software development by giving the German manufacturer access to 120 skilled staff, Daimler Trucks Chief Executive Martin Daum said.
“You cannot have enough expertise in this area. Our Achilles’ heel is the ability to quickly develop software,” Daum said.
Torc has developed technology that allows vehicles to operate at a high level of automation, known as level 4, helping Daimler to accelerate its own plans for commercialising self-driving vehicles.Torc’s Level 4 system has been shown to operate well for both urban and highway driving in rain, ...