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Daimler buys Torc Robotics interest in self-driving trucks pressure

FILE PHOTO: Daimler CEO Dieter Zetsche attends the annual press conference in Stuttgart, Germany, February 6, 2019. REUTERS/Michael Dalder

FRANKFURT (Reuters) – Daimler Trucks has agreed to buy a majority stake in the autonomous truck software maker Torc Robotics as part of a broader push to develop self-driving vehicles.

Torc, located in Blacksburg, Virginia will help Daimler to accelerate the development of software by giving the German manufacturer access to the 120 employees, Daimler Trucks Chief Executive Martin Daum said.

“You may not have enough expertise in this area. Our achilles heel is the ability to quickly develop software,” Daum said.

Torc Robotics has partnerships to develop self-driving technology with Caterpillar mining and agriculture applications, and competed in the DARPA self-driving vehicles challenge 12 years ago.

Reporting by Edward Taylor; editing by Thomas Seythal

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