General Motors is a far cry from a Silicon Valley start-up, but it’s doing its darndest to act like one regarding its driverless car programs. The Detroit Free Press reports GM CFO, Chuck Stevens, drew a parallel line between the automaker’s autonomous vehicle programs and the epicenter of technology in America.
Stevens made the comment during a discussion with various Wall Street analysts, and also stated the sale of Opel and Vauxhall will help fund the future development of autonomous technologies.
“The autonomous program is being managed like a Silicon Valley start-up,” Stevens said. “This is a business center that is being built to drive commercial performance in the future as we take autonomous vehicles into a commercial business.”
GM acquired Cruise Automation last year for a price of $581 million. Cruise continues to work with the 2017 Chevrolet Bolt EV and hone GM’s autonomous driving technologies, which it says will be ready sooner rather than later.
Stevens reiterated the hands-off approach with Cruise, stating Cruise founder, Kyle Vogt, has operational and financial responsibility for the performance of the business.
“Our view is to run this as a standalone business unit,” he said.