GM Cruise autonomous vehicle unit gets $1.15B investment

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Thread: GM Cruise autonomous vehicle unit gets $1.15B investment

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    GM Cruise autonomous vehicle unit gets $1.15B investment

    I guess this is what GM is banking on for it's future.


    DETROIT — A group of institutional investors is sinking $1.15 billion into GM Cruise LLC, the autonomous vehicle unit of General Motors.

    GM announced the investment from a group led by T. Rowe Price on Tuesday morning. Cruise CEO Dan Ammann said in a statement the investment gives Cruise deep resources to draw on as it develops and deploys self-driving vehicles. GM says the investment brings Cruise’s valuation to $19 billion. It comes in addition to $2.75 billion from Honda Motor Co. last October and $2.25 billion last May from Japanese tech firm investment firm SoftBank.

    https://www.washingtonpost.com/busin...=.0dacfc8310ac

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Crazy, GM, who actually makes a product with much profit, is worth 50B roughly. So a vaporware subsidiary is worth 40% of GM. Crazy.

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    I really would like to know what they see of VALUE in self driving cars? at an institutional BANK POV
    I see a LOT of "disruption" to a LOT of profit making sectors for a "race to the bottom" sales model

    the only way I see the robo-cars taking off is if they are legislated into usage - OR they offer a pricing model so CHEAP that LOTS of people give up the personal car giving cruise little pricing power as uber and lyft and a dozen other startups are going to drive the price down and make it back on advertising / data tracking and other "modern" business models

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    I personally think autonomous cars are further off than many people are predicting.

    So many issues with weather, snow/ice, cold and urban variables. Like EV's, its a lot of hype trapped by reality.

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by richmond2000 View Post
    I really would like to know what they see of VALUE in self driving cars? at an institutional BANK POV
    I see a LOT of "disruption" to a LOT of profit making sectors for a "race to the bottom" sales model

    the only way I see the robo-cars taking off is if they are legislated into usage - OR they offer a pricing model so CHEAP that LOTS of people give up the personal car giving cruise little pricing power as uber and lyft and a dozen other startups are going to drive the price down and make it back on advertising / data tracking and other "modern" business models
    Why do you not see self driving cars being a success? I'd say 90% of people can care less about the "joy" of driving. I like to drive and the reality is that most of the time I'm stuck in traffic or behind a slow moving landscaping vehicle - in those cases I'd rather not be driving.

    And I suspect most of us wont own a self driving car, we will just call one up when we need it, so now the same people who don't care about driving don't have to make a huge investment in a vehicle. And if you don't need to own a vehicle, now you have an extra room in your house (garage).

    Once people become used to the concept and proven safe, I don't see much in the way of obstacles to get people to adapt.

    They just need to develop the tech to make it a reality. If they can build it, I think "they shall come".

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    I think, and hope there will be a technology backlash. With some people going back to "dumb" phones, and realizing that technology isn't all it's cracked up to be, I hope this fizzles out. I don't like the idea of being surrounded by tons of metal that can go haywire over a bad connection, or a false reading from a sensor hitting a reflection just wrong, or something that can be hacked, or something further intruding into being "connected" (monitored) by big tech. I'm one of the ones that will never own an Alexa or wiretap of similar nature.

    Quote Originally Posted by BlackGTP View Post
    And if you don't need to own a vehicle, now you have an extra room in your house (garage).
    What else do you do with a garage? I personally didn't spring for a 5.5 car garage to store acres of boxes and other things I never touch, or to put another couch in another room to make a "mancave".

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by BlackGTP View Post
    Why do you not see self driving cars being a success? I'd say 90% of people can care less about the "joy" of driving. I like to drive and the reality is that most of the time I'm stuck in traffic or behind a slow moving landscaping vehicle - in those cases I'd rather not be driving.

    And I suspect most of us wont own a self driving car, we will just call one up when we need it, so now the same people who don't care about driving don't have to make a huge investment in a vehicle. And if you don't need to own a vehicle, now you have an extra room in your house (garage).

    Once people become used to the concept and proven safe, I don't see much in the way of obstacles to get people to adapt.

    They just need to develop the tech to make it a reality. If they can build it, I think "they shall come".
    One hundred percent agree.

    Saw a lady today who's in desperate need of a self-driving car. For the life of her, she simply could not merge onto the expressway causing a pickup truck with trailer loaded with equipment to have to veer into the lane of an 18-wheeler who then veered into my path causing me to have to veer left into a lane with cars speeding past all in pouring down rain. She is EXACTLY the kind of people who should have an autonomous vehicle OR be put in prison ... whichever ... I don't care. Please, GM! Hurry!
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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    The tech will be at regulators doors sooner than we think. We’ve been integrating new tech into our lives quite seamlessly and autonomous cars won’t be any different.
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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Americans are fat and lazy and will take to autonomous cars faster than most anyone here are willing to accept. Let your personal preferences go and think about it objectively.


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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by JimmyDiablo View Post
    Americans are fat and lazy and will take to autonomous cars faster than most anyone here are willing to accept. Let your personal preferences go and think about it objectively.



    LOL. Can't wait to eat Baconator on the way to the ball game.

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by Vagon11 View Post
    Crazy, GM, who actually makes a product with much profit, is worth 50B roughly. So a vaporware subsidiary is worth 40% of GM. Crazy.
    continue calling it vaporware, if you see those bolts navigating traffic in SF at night in the rain.. its quite impressive what they can do, add the Cadillac developed Freeway software, and GM is absolutely far ahead of anyone.

    GM is hopelessly undervalued

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by fastrehotrods View Post
    I think, and hope there will be a technology backlash. With some people going back to "dumb" phones, and realizing that technology isn't all it's cracked up to be, I hope this fizzles out. I don't like the idea of being surrounded by tons of metal that can go haywire over a bad connection, or a false reading from a sensor hitting a reflection just wrong, or something that can be hacked, or something further intruding into being "connected" (monitored) by big tech. I'm one of the ones that will never own an Alexa or wiretap of similar nature.



    What else do you do with a garage? I personally didn't spring for a 5.5 car garage to store acres of boxes and other things I never touch, or to put another couch in another room to make a "mancave".

    Convert it to a room, sky is the limit with what you do with it.

    The bigger the house, yes, less gain from gaining a room. But a 2,000 sq ft house has a lot to gain from converting the garage to a room.

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by JimmyDiablo View Post
    Americans are fat and lazy and will take to autonomous cars faster than most anyone here are willing to accept. Let your personal preferences go and think about it objectively.

    hahaha - sad but true. Think of the marketing capabilities too, now you are trapped inside a self driving car owned by someone else (Uber maybe?). Perfect opportunity for marketers to buy their way into the vehicle to advertise at the captive audience. I can see the Uber payment options - $.25 a mile no ads, $.15 a mile with ads.

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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by mbukukanyau View Post
    GM is hopelessly undervalued
    ...and that's just it--right there...

    They see no real growth in selling "cars". So, they look at the trends in the market, buy a small company that fits in that market, drum up some marketing about it, and voula...$19B of valuation out of thin air.

    That's is the only reason why they are in this--they do not care whether or not autonomous shareable vehicles come to fruition. What they do care is that investors are willing to pay top dollar for something that will be top 2 dollars in 5 years. They just need to keep it far enough away so when that bubble bursts, they are not negatively affected.

    Look, GM consumers, we are a part of the future!! What's the future, GM? I don't know, but, we're in it

    They only people who believe in the hype are the ones who argue about it...

    It's all hot air--who cares...
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    Re: GM Cruise autonomous vehicle unit gets $1.15B investment

    Quote Originally Posted by mbukukanyau View Post
    continue calling it vaporware, if you see those bolts navigating traffic in SF at night in the rain.. its quite impressive what they can do, add the Cadillac developed Freeway software, and GM is absolutely far ahead of anyone.

    GM is hopelessly undervalued
    Still sounds like there are difficult hurdles to overcome, but it does seem like GM is pretty far along. I wonder what particular piece or pieces of the tech that they are struggling with.

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