Daimler Trucks acquires Torc Robotics
Daimler Trucks and Buses and Torc Robotics signed an agreement for Daimler Trucks to acquire a majority stake in Torc Robotics for an undisclosed sum. Closing of the acquisition is subject to approval from U.S. authorities.
“With the ever-rising demand for road transportation, not the least through e-commerce, there is a strong business case for self-driving trucks in the U.S. market, and I believe the fastest path to commercialization for self-driving trucks is in partnership with Daimler Trucks, the OEM market leader. This move is in line with our mission of saving lives and represents another major milestone for Torc since crossing the finish line in the DARPA Urban Challenge 12 years ago,” said Michael Fleming, CEO of Torc.
“Bringing Torc Robotics within the Daimler Trucks family creates a unique and powerful team of innovators to put highly automated trucks on the road. 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 on agile software development and our experience in delivering reliable and safe truck hardware,” said Martin Daum, Member of the Board of Management Daimler AG, responsible for Trucks and Buses.
“Torc is not a startup, but one of the world’s most experienced companies for vehicle automation. Torc takes a practical approach to commercialization and offers advanced, road-ready technology, plus years of experience in heavy vehicles. Torc’s Level 4 system has been shown to operate well for both urban and highway driving in rain, snow, fog, and sunshine,” said Roger Nielsen, CEO of Daimler Trucks North America (DTNA), which includes the Freightliner brand.
As part of the overall agreements, the Torc team will work with Daimler Trucks’ developers, particularly with the Research & Development team of Daimler Trucks North America in Portland, OR. Torc will continue to develop its Asimov self-driving software and testing at its Blacksburg, VA, facility. At the same time, DTNA will reportedly focus on further evolving automated driving technology and vehicle integration for heavy-duty trucks at its Automated Truck Research & Development Center in Portland. Daimler says its DTNA team is working on a truck chassis suited for automated driving, particularly the redundancy of systems needed to provide the maximum level of reliability and safety.
Under the agreement, Torc will remain a separate entity retaining its name, team, existing customers, and facilities in Blacksburg. The companies say that the partnership enable Torc to expand its team, engage the trucking market, and service its customer base in other markets.
In addition to the partnership with Torc, Daimler Trucks says it will continue to work closely across the Daimler Group for automated vehicle technology. Specifically, Daimler Trucks is drawing on the activities and experiences of Mercedes-Benz Cars regarding sensor technology and operational aspects of vehicle automation.