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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