Firm Guides Daimler in Acquisition of Self-Driving Technology Company Torc Robotics

April 3, 2019 — Hughes Hubbard is representing Daimler Trucks in its acquisition of a majority stake in U.S. self-driving technology company Torc Robotics.

On March 29, Daimler Trucks and Buses Holding Inc., a subsidiary of German automaker Daimler AG, announced that it agreed to buy a majority stake in Blacksburg, Virginia-based Torc as part of a one-of-a-kind combination to commercialize self-driving trucks in the U.S. Terms of the deal were not disclosed.

Daimler currently offers what is known as level 2 automation on its trucks, which not only have adaptive cruise control and lane-keeping, but can automatically brake, accelerate, decelerate and steer laterally. Daimler intends to eventually offer level 4 automation, or autonomous driving, as part of its partnership with Torc. 

Founded in 2005 by a group of engineers from Virginia Tech, Torc is one of the most experienced self-driving vehicle teams with proven technology and experience in heavy equipment.

One of the largest truck manufacturers in the world, Daimler Trucks is a pioneer of truck automation with a global presence, including in the U.S. with Portland-based Daimler Trucks North America, the leading heavy-duty truck manufacturer in North America.

The deal made headlines in Bloomberg, CNBC.com, Reuters, the Financial Times, Law360 and other news outlets.

Ken Lefkowitz leads the HHR team, which includes Gerold Niggemann, Andy Braiterman, Ryan Fayhee, Shane Stroud, Michael DeBernardis, Alan Kashdan, Carol Remy, David Cohen, Justin Cohen, Don D’Amico, Tyler Grove, Ose Okoruwa and Sydney Stringer.