GM takes over Cruise Automation

N According to GM, Cruise Automation has 'in-depth software knowledge and high development potential. GM is thus further accelerating the development of technologies for autonomous driving.'

GM President Dan Ammann says: 'Fully autonomous Vehicles bring our customers enormous advantages. They benefit from greater comfort, lower costs and improved safety on their daily journeys. '

Cruise will operate as an independent unit within the Autonomous Vehicle Development Team recently founded by GM. This team is led by Doug Parks, GM's Vice President of Autonomous Technology and Vehicle Execution.

In early 2016, GM established a strategic partnership with the Lyft ridesharing platform and operates it in some US cities under the Maven brand has its own car-sharing fleet. The transaction should take place after the usual purchase terms have been fulfilled in the second quarter of 2016.