Deals
Daimler Steps Up the Pace on Self-Driving Trucks
- Biggest truckmaker takes majority stake in Torc Robotics
- Manufacturer plans to bring automated rigs to U.S. roads
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Daimler AG’s truck unit agreed to buy a majority stake in U.S. autonomous technology company Torc Robotics as the world’s biggest commercial-vehicle maker prepares to spend more than 500 million euros ($561 million) on self-driving vehicles in the next few years.
The deal is part of a plan to start running highly automated vehicles on U.S. roads, starting with routes between logistics centers outside of cities, said Martin Daum, the chief executive officer of Daimler’s truck division.