General Motors expects to offer self-driving vehicles to consumers within the decade, as autonomous and EV technology heats up.
Although full autonomous vehicles are currently in the midst of stringent testing, manufacturing them for the broader consumer base has not been a main priority for automakers. The technology required to run such a system is highly elaborate and expensive, and as a result has only been subject to ride-hailing and other commercialized plans.
However, according to GM CEO Mary Barra, consumers may too, eventually be able to purchase self-driving vehicles for personal use. “Later in the decade, I believe, and there’s a lot to still unfold, but I believe we’ll have personal autonomous vehicles,” she told investors during the company’s first quarter earnings call. She failed to specify whether or not GM would sell vehicles equipped with such technology directly to customers, but it could likely be that the automaker would lease them or offer consumers a subscription service similar to what it did for Cadillac cars.
Sponsored · PTX Metals Inc.
Barra’s latest comments follow GM’s recent debut of its personal autonomous vehicle concept car for its Cadillac division back in January. The model was based on the Origin, which is an autonomous ride-hailing shuttle from the company’s subsidiary, Cruise. As of current, GM has two main systems for such technology, with Cruise leading the development of fully autonomous vehicles, while the automaker expands the advanced driver-assist Super Cruise system to 22 models before 2023.
“Both paths are very important because the technology we put on vehicles today, I think makes them safer and delights the customers, and is going to give us an opportunity for subscription revenue,” Barra explained to investors. “And then the ultimate work that we’re doing at Cruise that is full autonomous really opens up more possibilities than I think we can online today,” she added.
Information for this briefing was found via GM. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
