Daimler Trucks North America (DTNA) sets plans in motion, Geared Up to Acquire Majority Stake in Torc Robotics

News Technology

Daimler-Trucks-North-America-DTNA-sets-plans-in-motion-Geared-Up-to-Acquire-Majority-Stake-in-Torc-Robotics Daimler Trucks North America (DTNA) sets plans in motion, Geared Up to Acquire Majority Stake in Torc RoboticsDaimler Trucks, a division in the Daimler Group, as per recent reports, has entered into a partnership agreement with Torc Robotics, a Blacksburg, Virginia-based autonomous software solution provider for mobility applications, in a one-of-a-kind attempt to boost commercialization of highly automated – SAE Level 4 – trucks on US roads.

As per the signed agreement, Daimler Trucks along with Buses Holding Inc. will be acquiring a majority stake in Torc Robotics for an undisclosed sum. Completion of the acquisition process is subject to approval from US authorities.

“Bringing Torc Robotics within the Daimler Trucks family creates a unique and powerful team of innovators to put highly automated trucks on the road,” stated Martin Daum, Member of the Board of Management Daimler AG, responsible for Trucks and Buses.

“Daimler Trucks and Torc Robotics complement each other perfectly in terms of resources, expertise, and skill sets. We are forming the ideal combination between Torc’s expertise in agile software development and our experience in delivering reliable and safe truck hardware,” Martin added.

As part of the above-said agreement, the team at Torc Robotics will collaboratively work together with the developers at Daimler Trucks – to be precise the R&D team of Daimler Trucks North America (DTNA) in Portland, Oregon.

In addition, Torc will be continuing its development operations for the company’s Asimov self-driving software and testing at the Blacksburg, Virginia facility.

Under the terms of the agreement, Torc will continue to remain a separate entity altogether, retaining its brand name, team, existing customers, and facilities in Blacksburg, Virginia.

With this one-of-a-kind partnership agreement with Daimler Trucks, Torc will now have added strength and capabilities to expand its team of professionals, venture deep into the trucking market to build relations, and cater services its ever growing customer base in other markets.