Daimler Trucks Acquires Majority Stake in Torc Robotics

March 29, 2019

Daimler Trucks (via Daimler Trucks and Buses Holding Inc., a subsidiary of Daimler AG) agreed to acquire a majority stake in Torc Robotics to accelerate commercialization of SAE Level 4 automated trucks. Torc will remain a separate entity in Blacksburg, Virginia, continue developing its Asimov self-driving software and work closely with Daimler's R&D teams in Portland and globally.

Buyers
Daimler Trucks and Buses Holding Inc., Daimler AG
Targets
Torc Robotics
Industry
Automotive
Location
Virginia, United States
Transaction Type
Buyout

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