GM’s Cruise to Debut Driverless Taxis in 2022

General Motors’ (NYSE: GM) autonomous car subsidiary Cruise plans to debut its driverless taxi service as early as next year.

On Thursday, GM’s product development and purchasing chief Doug Parks announced during the Deutsche Bank AutoTech Conference Cruise is targeting operations of its fully autonomous taxi service in 2022. The taxi service will run in San Francisco, where Cruise is already in the midst of a pilot project that sees driverless vehicles pick up GM employees. “The technology is really coming,” said Parks. “We’re on our way, targeting commercial deployment next year.”

However, Cruise’s current permit allows the company to test its autonomous vehicles only at night and on streets that do not exceed a 30 mph speed limit. Although Cruise is not allowed to charge a fee for ride-hailing services, the current permit does allow the company to charge for delivery services.

Information for this briefing was found via Deutsche Bank. 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.

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