Start of a New CEO: Daimler Truck, Torc Begin Fourth Year of Collaboration

Torc Robotics and Daimler Truck AG enter their fourth year of partnership, with a focus on customers, industry collaboration, and commercializing Level 4 autonomous trucks in the U.S. for long-haul applications. The powerhouse team continues to develop safe, sustained innovation in the freight industry as they combine Daimler Truck's extensive experience in manufacturing and relationships in the freight industry with Torc's experience in developing autonomous vehicle solutions. Since Daimler Truck's majority share investment in Torc in 2019, the two have worked hand-in-hand to be the first to commercialize a profitable autonomous truck solution at scale. Torc continues to operate as an independent subsidiary and serves as the lead for autonomous driving system development, innovation, and fleet testing. "Bringing a safe Level 4 autonomous truck to market is by no means a simple task. Over the past three years, we have benefited from the strong collaboration with Daimler Truck, bringing us significantly closer to our goal of developing a highly optimized self-driving truck that will meet the fleets' needs for cost, safety, and performance. The teamwork shown has been outstanding so far and we're entering our fourth year of partnership with a clear roadmap – focusing on one manufacturer and one initial use case in one geographic area," said Peter Vaughan Schmidt, Torc CEO.