3/14/2016

GM Buys Autonomous Vehicle Software Startup

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General Motors Co. is acquiring Cruise Automation Inc., a three-year-old startup in San Francisco that specializes in technology for self-driving cars.

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General Motors Co. is acquiring Cruise Automation Inc., a three-year-old startup in San Francisco that specializes in technology for self-driving cars.

Terms were not disclosed. GM expects the deal to be completed between April and June.

Cruise developed a roof-mounted pod that could give certain Audi vehicles the ability to drive on highways autonomously. But the capabilities of the $10,000 feature were limited, and the company refocused on more advanced technologies for driverless cars.

GM, which has been following the company for two years, says Cruise will maintain its San Francisco office but become part of GM's new Michigan-based Autonomous Vehicle Development Team. The unit is headed by Doug Parks, vice of autonomous technology and vehicle execution.

The Cruise Automation acquisition is GM's latest move to explore personal mobility options. So far this year it has acquired a 9% stake in on-demand rider provider Lyft Inc., acquired some assets of ride-share pioneer Sidecar and introduced its own Maven car-sharing brand.