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CEO of General Motors’ Robotaxi subsidiary Cruise resigns – shares fall

DETROIT (dpa-AFX) – The US automaker General Motors (GM) has to look for a new boss for its ambitious Robotaxi subsidiary Cruise. Cruise boss Dan Ammann is leaving the company, GM announced on Thursday in Detroit. The cruise manager, Kyle Vogt, who is responsible for the technology, will temporarily take over his duties, it said. In addition, the auto giant is sending Wesley Bush, a corporate manager, to the management ranks of Cruise. The tech company, which specializes in self-driving cars, will continue to pursue the strategy recently presented. GM did not give any reasons for the personnel change. After the stock market announcement, GM’s shares plummeted by over four percent.

Cruise is the Detroit auto company’s great hope for the technology-driven future of the automobile. At the end of the decade, Cruise is expected to generate around 50 billion US dollars (44 billion euros) in sales, making a significant contribution to General Motors’ planned growth.

Currently, the company’s cars in San Francisco are allowed to drive through the city without a driver at certain times, but at a limited speed. Cruise competes with the Google (Alphabet C (ex Google)) sister Waymo, who also works on self-driving cars. In addition to Waymo and Cruise, Apple and various start-ups as well as car manufacturers and their suppliers are also working on technology for autonomous driving. Volkswagen (Volkswagen (VW) vz) and Ford (Ford Motor), for example, jointly rely on the start-up Argo./men

Reference-www.finanzen.at

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