March 29, 2019 / 1:12 PM / 21 days ago

Daimler buys Torc Robotics stake in self-driving trucks push

FRANKFURT, March 29 (Reuters) - Daimler Trucks has agreed to buy a majority stake in autonomous truck software maker Torc Robotics as part of a broader push to develop self-driving vehicles.

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

“You cannot 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 with mining and agricultural 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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