Daimler Truck Seeks Partner for Autonomous Unit Torc to Raise $660 Million in Funding

Daimler Truck is seeking a partner for its autonomous-driving unit Torc Robotics to fund its €600 million annual spending. The company is working with Bank of America to sound out potential investors for a minority stake in Torc. Talks are still in the early stages, and details have not been finalized. Torc develops Level 4 autonomous driving technology for heavy-duty trucks and competes with companies like Aurora Innovation.

Daimler Truck Holding AG is actively seeking a partner to support its autonomous-driving unit, Torc Robotics Inc., as it aims to raise capital for its significant investment needs. The German truckmaker is working with Bank of America Corp. to identify potential investors interested in acquiring a minority stake in Torc [1].

The primary goal of this initiative is to secure around €600 million ($660 million) annually to fund Torc's operations. The company currently owns approximately 91% of Torc Robotics, with the remaining shares held by the founders. Talks are still in the early stages, and details such as the potential size of the stake sale remain undetermined [1].

Torc Robotics, headquartered in Blacksburg, Virginia, specializes in developing Level 4 autonomous driving technology, which can handle all aspects of driving in certain conditions without human intervention. Founded twenty years ago, Torc was acquired by Daimler Truck in 2019 and has since been integrated into the manufacturer's broader push to commercialize driverless freight transport. The company is currently running pilot programs in the US and is preparing for large-scale deployment [1].

Daimler Truck's spokesperson commented, "In general, Daimler Truck is prepared to consider new investors if they can offer meaningful value to our autonomous driving initiatives and support the company’s growth," while declining to provide further details [1]. Bank of America also declined to comment on the matter.

Torc competes with other self-driving companies, including US-listed Aurora Innovation Inc., in the development of autonomous driving technology for heavy-duty trucks [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-09-04/daimler-truck-is-said-to-seek-partner-for-self-driving-unit-torc
[2] https://www.investing.com/news/stock-market-news/daimler-truck-seeks-partner-for-autonomous-driving-unit-torc-robotics--bloomberg-93CH-4224337