Torc Robotics Appoints Tobias Wessels as New Chief Financial Officer

Torc Robotics announced on May 12 that it has appointed Tobias Wessels as Chief Financial Officer (CFO). In an official announcement, the company stated that Wessels will support the company's efforts to scale and commercialize Level 4 autonomous trucks, as well as contribute to other long-term strategic initiatives.

Torc CEO Peter Vaughan Schmidt commented that Wessels' career is "highly aligned with the trajectory of autonomous driving technology development." Schmidt said in a statement: "His operational experience in deep tech, combined with his transatlantic communication skills, make him the ideal person to work with the team and Daimler Truck to bring autonomous freight to market." Previously, Torc's former CFO Richard Kannan passed away in December of last year.

According to the announcement, Wessels most recently served as Chief Development Officer at Helm.ai, where he was responsible for finance, corporate development, and international expansion, including the expansion of operations in Stuttgart and collaboration with the Volkswagen Group. He previously served as Chief Corporate Development Officer at Udelv, an autonomous electric delivery company, and as CFO at Alphabet's "moonshot factory" X, where he laid the financial foundation for several projects, including what later became Waymo.

Wessels said his current focus is on "building a financial infrastructure that matches Torc's technological and commercial ambitions." He added: "Torc occupies a position that no other autonomous trucking company can match—strategic support from Daimler Truck, a clear focus on freight, and the technology and team to deliver at scale."