Cruise Automation is a San Francisco-based company that develops self-driving car technology. The company was founded in 2013 by Kyle Vogt and Dan Kan, and it has since grown to become one of the most talked-about players in the autonomous vehicle industry.
What Is Cruise Automation?
Cruise Automation is a self-driving car company that develops software, hardware, and systems for autonomous vehicles. The company’s mission is to create a safer, cleaner, and more accessible world by accelerating the adoption of self-driving cars.
The company’s technology uses sensors, cameras, and machine learning algorithms to enable cars to drive themselves. Cruise Automation’s system is designed to work with existing vehicles, which means that it can be retrofitted onto cars that are already on the road.
The History of Cruise Automation
Cruise Automation was founded in 2013 by Kyle Vogt and Dan Kan. The company started out as a startup focused on developing an aftermarket kit that would allow drivers to add self-driving capabilities to their cars.
In 2016, Cruise Automation was acquired by General Motors for a reported $1 billion. Since then, Cruise has become one of the most well-funded companies in the autonomous vehicle industry.
What Is Cruise Automation Worth?
It’s difficult to put an exact value on Cruise Automation because it is a private company that does not disclose its financial information. However, analysts estimate that the company is worth between $14 billion and $19 billion.
One reason for this high valuation is the fact that Cruise has made significant progress in developing its self-driving technology. In 2020, the company received permission from California authorities to test its fully driverless vehicles on public roads.
Another reason for Cruise’s high valuation is its partnership with General Motors. GM has invested heavily in Cruise Automation and has committed to using its technology in future autonomous vehicles.
The Future of Cruise Automation
Cruise Automation has ambitious plans for the future. The company aims to launch a fully autonomous ride-hailing service in San Francisco in the near future. This service would allow users to summon a self-driving car using their smartphone and travel to their destination without a driver.
Cruise also plans to expand its operations globally and is currently testing its technology in multiple cities around the world.
Conclusion
Cruise Automation is a company that is leading the way in the development of self-driving car technology. With a high valuation and ambitious plans for the future, Cruise is poised to make a significant impact on the automotive industry and change the way we think about transportation.
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