Torc Robotics will retain its location, name and team members while working closely with Daimler Trucks research and development teams, especially in North America. Acquisition will create a unique player in the automated vehicle space.
Source: www.aftermarketnews.com
Daimler Trucks and Buses Holding Inc., a subsidiary of Daimler AG has signed an agreement on Friday to acquire a majority stake in the U.S. based Torc Robotics, for developing technology in the area of autonomous vehicle. Financial terms of the deal have not yet been disclosed. The companies currently have an ongoing OEM/supplier relationship. Under the agreement, Torc will retain its name, team, existing customers, and facilities while working closely with Daimler Trucks R&D teams, especially in North America.
