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Daimler to invest €500M to develop self-driving trucks

Daimler AG said Jan. 7 that it will invest €500 million to develop technology for "highly automated" trucks, with an aim to have such vehicles deployed within 10 years.

The investment by the German automaker will create more than 200 jobs, mainly in the areas of mechatronics and robotics.

The announcement came as Daimler unveiled its partially automated Freightliner Cascadia truck at the Consumer Electronics Show in Las Vegas. The new model has a system that can independently brake, accelerate and steer the vehicle.

The Freightliner Cascadia will be the first truck with such self-driving capabilities used on North American roads when it launches this year. It is classified at Level 2 of driving automation, while Daimler's investment is targeting Level 4 automation.