General Motors Co. announced plans to acquire Cruise Automation, a San Francisco-based company focused on autonomous vehicle technology.
The move is aimed at further accelerating GM’s development of self-driving cars. GM cited Cruise’s “deep software talent and rapid development capability” in announcing the acquisition plans.
“Fully autonomous vehicles can bring our customers enormous benefits in terms of greater convenience, lower cost and improved safety for their daily mobility needs,” said GM President Dan Ammann.
Cruise will operate as an independent unit within GM’s recently formed autonomous vehicle development team. Led by Doug Parks, GM vice president of autonomous technology and vehicle execution, the unit will continue to be based in San Francisco.
Founded in 2013, Cruise has moved quickly to develop and test autonomous vehicle technology in San Francisco’s challenging city environment.
“GM's commitment to autonomous vehicles is inspiring, deliberate, and completely in line with our vision to make transportation safer and more accessible,” said Kyle Vogt, founder of Cruise Automation. “We are excited to be partnering with GM and believe this is a groundbreaking and necessary step toward rapidly commercializing autonomous vehicle technology.”
“Cruise provides our company with a unique technology advantage that is unmatched in our industry,” added Mark Reuss, GM executive vice president of global product development, purchasing and supply chain. “We intend to invest significantly to further grow the talent base and capabilities already established by the Cruise team.”