General Motors (GM) is a well-known American multinational corporation that has been in the automotive industry for over a century. The company has been involved in various ventures over the years, including its stake in the cruise automation project. In this article, we will explore how much of Cruise does GM own and what it means for the future of autonomous driving.
The Origin of Cruise Automation
Cruise was founded in 2013 by Kyle Vogt, who started the company with the goal of developing technology that would enable self-driving cars. The company quickly gained attention and was acquired by General Motors in 2016 for a reported $1 billion.
How Much of Cruise Does GM Own?
Following its acquisition, General Motors became the majority owner of Cruise. According to reports from 2020, GM owns approximately 80% of Cruise, with Honda owning around 5%. The remaining shares are owned by Cruise employees and other investors.
What Does This Mean for Autonomous Driving?
GM’s investment in Cruise is significant as it demonstrates the company’s commitment to developing autonomous driving technology. With a controlling stake in the project, General Motors has more control over how Cruise operates and can better integrate its technology into its existing line-up of vehicles.
Additionally, GM’s ownership stake in Cruise allows it to leverage its expertise and resources to help accelerate development efforts. This includes access to GM’s vast network of suppliers, engineers, and manufacturing facilities.
The Future of Autonomous Driving
As autonomous driving technology continues to evolve, companies like General Motors are positioning themselves as leaders in this space. With its majority ownership stake in Cruise, GM has a unique opportunity to shape the future of autonomous driving.
The potential benefits of self-driving cars are numerous – from reducing traffic congestion and increasing safety on our roads to reducing carbon emissions. However, there are also concerns about the impact of autonomous vehicles on employment and the potential for accidents.
Conclusion
In conclusion, General Motors owns approximately 80% of Cruise, making it the majority owner of this autonomous driving technology project. This investment demonstrates GM’s commitment to developing self-driving cars and its position as a leader in this space. As the technology continues to evolve, it will be interesting to see how GM and Cruise continue to innovate and shape the future of transportation.