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Bloomberg: Daimler looks for investment partners in AV firm Torc

Daimler is looking for partners to support the steep annual costs incurred by its autonomous trucking unit. By Stewart Burnett

Daimler Truck is seeking investment partners for its autonomous driving subsidiary Torc Robotics to help finance the unit's substantial funding requirements of approximately €600m (US$698m) annually. Sources have told Bloomberg that the German commercial vehicle manufacturer has enlisted Bank of America to identify potential investors interested in acquiring a minority stake in Torc.

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https://www.automotiveworld.com/articles/bloomberg-daimler-looks-for-investment-partners-in-av-firm-torc/

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