Gm’s president is leaving Detroit to run its self driving-car biz

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.

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General Motors acquires Cruise Automation

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.

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