If you’re interested in self-driving cars, you may have heard of Cruise Automation. But is Cruise Automation a public company? Let’s take a closer look.
What is Cruise Automation?
Cruise Automation is a San Francisco-based company that develops self-driving technology for cars. The company was founded in 2013 and has since been acquired by General Motors (GM) in 2016. Since then, Cruise has become a subsidiary of GM and has been working on developing autonomous vehicles for use on public roads.
Is Cruise Automation a Public Company?
No, Cruise Automation is not currently a public company. As mentioned earlier, the company was acquired by General Motors in 2016. This means that GM owns all of Cruise’s shares and controls the company’s operations.
Why Isn’t Cruise Automation Public?
There are several reasons why companies choose to go public, such as raising capital or increasing liquidity for shareholders. However, going public also means giving up control to shareholders and being subject to more scrutiny from regulators and the public.
In the case of Cruise Automation, it is likely that General Motors chose to keep the company private so that it could have more control over its development of self-driving technology. By keeping Cruise private, GM can invest more resources into research and development without having to worry about meeting quarterly earnings expectations or appeasing shareholders.
Will Cruise Automation Go Public in the Future?
It’s difficult to say whether or not Cruise Automation will go public in the future. However, there have been rumors that GM is considering spinning off Cruise into its own separate entity. If this were to happen, it would still be up to GM to decide whether or not to take the new entity public.
The Future of Self-Driving Cars
Regardless of whether or not Cruise becomes a public company, the development of self-driving technology is rapidly advancing. Many companies, including Alphabet’s Waymo and Tesla, are also working on developing autonomous vehicles.
As this technology becomes more commonplace, it has the potential to revolutionize transportation and change the way we live our lives. However, it also raises questions about safety, privacy, and job displacement.
Conclusion
In summary, Cruise Automation is not a public company. As a subsidiary of General Motors, Cruise is currently a private entity that is working on developing self-driving technology for use on public roads. While it’s unclear whether or not Cruise will go public in the future, the development of self-driving technology is something that will continue to shape our world in the years to come.