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GM Prepares for Self-Driving Taxi Test in San Francisco
General Motors Co. is preparing a San Francisco rollout next year for a ride-hailing service that will use self-driving electric cars, Bloomberg News reports.
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General Motors Co. is preparing a San Francisco rollout next year for a ride-hailing service that will use self-driving electric cars, Bloomberg News reports.
GM said previously that its Cruise Automation unit intends to launch such a business in 2019 but has offered no details. Sources tell Bloomberg that the carmaker has built an 18-stall fast-charging facility in central San Francisco and is testing a fleet management system and Cruise Anywhere ride-hailing app to support the service.
A business launch hinges upon approval by the California Public Utilities Commission to allow self-driving vehicles to operate commercially on public roads. Cruise has been testing Chevrolet Bolt electric cars equipped with self-driving technology.
It isn’t yet clear whether GM will run the entire business itself or partner with another company. A Bloomberg source says Cruise Automation is structuring the operation to accommodate either decision.
GM spent about $1 billion to acquire Cruise in 2016. In May Japan’s SoftBank Vision Fund acquired nearly 20% of the startup for $2.3 billion, with most of the payment contingent upon commercializing the business. Bloomberg reported last month that GM is already studying whether to represent Cruise through a tracking stock or initial public offering after it begins operation.
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