General Motors buys complete ownership of Cruise
General Motors has finalized its acquisition of GM Cruise Holdings LLC after receiving the green light from the Cruise Board of Directors for GM’s merger proposal. As a result, Cruise is now a fully-owned subsidiary of GM and will collaborate on advancing autonomous vehicle technology and sophisticated driver assistance systems for personal vehicles.
One key focus for GM is to integrate Cruise technology into the Super Cruise assisted driving system. This innovative software platform enables drivers to remove their hands from the wheel on an extensive network of 750,000 miles of roads throughout North America. Currently accessible on more than 20 GM vehicle models, Super Cruise users are collectively clocking over 10 million miles per month utilizing this cutting-edge technology.
GM and Cruise have outlined their joint efforts to enhance driving assistance technology while broadening the reach of Super Cruise to encompass surface streets in urban settings. The overarching goal is to progress towards the eventual deployment of personal autonomous vehicles.
Dave Richardson, senior vice president of software and services engineering at GM, expressed enthusiasm about the collaboration between Cruise and GM. He emphasized how the amalgamation of Cruise’s specialized technology and skilled workforce with GM’s Super Cruise development team will expedite advancements in both assisted-driving and autonomous driving capabilities. Richardson looks forward to the joint efforts between GM and Cruise in accelerating their shared technological advancements.
It is important to note the cautionary advisory regarding forward-looking statements in the press release. The contents of the statement constitute GM’s current views and projections about potential future events. Grounded in historical trends, present conditions, and anticipated developments, these statements are based on informed assessments. However, they do not assure the occurrence of future events or financial outcomes. Various significant factors, as detailed in GM’s Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission, may impact actual results. It is advised not to place unwarranted reliance on these forward-looking statements, as they are subject to change and GM is committed to updating them only as mandated by law.