(Reuters) – The chief executive of an autonomous vehicle, company, Cruise, reported on Wednesday, General Motors Co. (GM.(N) the subsidiary is a going to be riding “at a radically lower cost-as part of a bid, the move is “out of the game.
FILE PHOTO: A nile Cruise self-driving car, which is owned by General Motors Corp., is seen outside the headquarters of the company in San Francisco, where the bulk of the testing in California, USA on September 26, 2018. (REUTERS photo/Heather Somerville/File Photo
Dan Ammann, the former ceo of the largest Detroit automaker is now the CEO of the Cruise, wrote in a blog post that this “order-of-magnitude rather than incremental, improvements in the transport sector, we need to build alternatives that are superior to the status quo, in every way.” The post office was established with the headline, “We Need to move Beyond the street.
The Cruise of the mission, ” he said, “is to reduce congestion through the construction of shared rides that are more compelling by the provision of a great experience at a radically lower cost.” Then, and only then, will we really have to go over the car to the transportation system that we deserve.”
Ammann does not go on a Cruise, it’s time to in his post.
The Cruise, on Wednesday said that it would be more detail at an event in San Francisco on Jan. 21.
Cruise was previously announced to have a collaboration with Honda Motor Co (7267.(T), for the development of a purpose-built autonomous vehicles for use in ride-sharing. Honda has been a minority investor in the Cruise.
The Cruise is valued at $19 billion in May, following a $1.15 billion round of investment. GM’s market capitalization stood at $50 billion, on Wednesday.
Earlier this year, Ammann demolished, the purpose of the launch of a Cruise robotaxi service by the end of 2019 at the latest.
GM’s rival Ford Motor Co (F. N) and its development partner, Today, the AI are going to be the launch of self-driving vehicles in commercial ride-sharing and the provision of services in the United States by the end of 2021.
Alphabet, Inc. ‘ s (GOOGL.(O) Waymo has been provided by ride-sharing services in Arizona in partnership with Lyft (LYFT.D).
Report by Joseph White in Detroit; Editing by Leslie Adler and Tom Brown