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Daimler Trucks Agrees To Acquire Majority Stake In Torc Robotics - Quick Facts

Daimler Trucks and Buses Holding Inc., a division in the Daimler Group, agreed Friday to acquire a majority stake in U.S.-based autonomous software solution provider Torc Robotics for an undisclosed sum to commercialize highly automated trucks (SAE Level 4) on U.S. roads. Closing of the acquisition is subject to approval from US authorities.

The two companies already have an ongoing OEM/supplier relationship. Torc Robotics is a pioneer in autonomous driving solutions.

As part of the overall agreements, the Torc team will work closely with Daimler Trucks' developers, particularly with the Research & Development team of Daimler Trucks North America (DTNA) in Portland, Oregon.

Torc will continue to develop its Asimov self-driving software and testing at its Blacksburg, Virginia facility. At the same time, DTNA will focus on further evolving automated driving technology and vehicle integration for heavy-duty trucks at its Automated Truck Research & Development Center in Portland.

The DTNA team is working on a truck chassis perfectly 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, Virginia. The partnership with Daimler Trucks will enable Torc to expand significantly its team and to engage into the trucking market and service its growing customer base in other markets.

In addition to the partnership with Torc, Daimler Trucks will continue to work very closely across the Daimler Group for maximum synergies regarding 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.

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