GM’s president is leaving Detroit to run its self driving-car biz
General Motors has given itself a deadline of 2019 to roll out a self-driving car service, a feat it would achieve though Cruise, a startup it acquired in 2016. And now Cruise has a new CEO in Dan Ammann, who is leaving his role as president of GM to take the full-time position. Founder Kyle Vogt will become the company’s CTO, effective January 1.
General Motors and its autonomous technology company Cruise Automation are testing self-driving cars on the streets of Scottsdale, Arizona.
General Motors acquires Cruise Automation
GM stepped up its commitment to self-driving cars by acquiring last Friday plans to acquire a San Francisco firm that developed a system for retrofitting existing vehicles with autonomous-driving software. Terms of GM’s deal with Cruise Automation were not disclosed. According to people familiar with the matter, the deal is valued north of $1 billion, which would make Cruise Automation an Unicorn in terms of Silicon Valley startup valuations.
Autonomous vehicle crashed….by human
Testing the software of Cruise Automation, a startup developing an autopilot system, a self-driving car crashed. However it did not crash while driving by itself, rather it crashed just after the handover from the automatic system to the human driver.