General Motors Co. (NYSE:GM) reportedly plans to lure back former employees as the company plans to revive the now-defunct Cruise autonomous driving system.
GM's Autonomous Push To Focus On Personal Vehicles Instead Of Robotaxis
The company plans to develop autonomous driving technology with a focus on personal-use vehicles, with the first step involving a "hands-free, eyes-free" autonomous driving system with a human in the driver's seat, Bloomberg reported on Monday.
Sources cited in the report mention GM's Chief Product Officer, Sterling Anderson, a former Tesla Inc. (NASDAQ:TSLA) executive, who sees autonomy as a big part of the automaker's future. Anderson left Tesla in 2017 to co-found Aurora Inc., a self-driving truck company.
GM will also try to hire some former cruise employees back and hire new staff. The company is currently in the process of collecting data, according to the report.
GM's Chevrolet Bolt EV, $888 Million V-8 Engine Investment
The news comes as GM recently announced a deal with Contemporary Amperex Technology Limited, or CATL, to supply LFP batteries for the upcoming Bolt EV, which will be priced at around $35,000, making it the company's cheapest EV.
However, GM is also pushing on with investments in gas-powered vehicles, as the company invested over $888 million in a V-8 engine plant in Buffalo, New York, in a renewed push for ICE-powered mobility.
Ford Develops New Affordable EV Platform
Meanwhile, fellow Michigan automaker Ford Motor Co. (NYSE:F) announced the development of an affordable EV platform, which the company says will form the foundation of a $30,000 EV for the company.
Tesla Gets Texas Ride-Hailing Permit
Elsewhere, Tesla has officially obtained a permit to operate its ride-hailing services in the state of Texas, which could be a major boost for CEO Elon Musk's Robotaxi ambitions.
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