Mexican Media Brands
GM Gets Antitrust Okay to Buy Cruise Automation
General Motors Co. has won approval from the U.S. Federal Trade Commission to acquire San Francisco startup Cruise Automation Inc.
#robotics
Share
General Motors Co. has won approval from the U.S. Federal Trade Commission to acquire San Francisco startup Cruise Automation Inc.
GM has not disclosed terms of the sale. But media reports say the deal is worth more than $1 billion in cash and stock.
Cruise Automation is a 3-year-old company that is developing technology to enable self-driving cars. GM plans to merge the tiny company into its new Michigan-based Autonomous Vehicle Development Team.
The team is led by Doug Parks, vice president of autonomous technology and vehicle execution.
RELATED CONTENT
-
GM Unit Stresses Driver Training in Autonomous Cars
General Motors Co.’s Cruise Automation unit says it puts backup drivers and auditors through extensive training before allowing them to participate in real-world autonomous vehicle tests.
-
Freudenberg Leans into Industry 4.0
CTO/COO Ted Duclos talks about dual roles and common objective
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
