Investors have finally taken a liking to General Motors self-driving car and mobility businesses. GM stock continues to hit record highs and the automaker isn’t done acquiring additional self-driving technology businesses.
In fact, GM is “actively” seeking out new acquisitions, according to CFO Chuck Stevens. “We have been actively looking at technology opportunities to enhance and speed the development, safely, of autonomous vehicles into the market,” Stevens told Automotive News.
GM most recently bought Strobe Inc, a LiDar producer and technology company. CEO Mary Barra said by purchasing Strobe, GM will help deliver “automotive grade” LiDar units and slash costs 99 percent.
Amid the acquisitions and Wall Street rally, GM also reaffirmed it does not plan to spin off its autonomous vehicle operations. Cruise Automation will remain under one roof with GM.
“We believe that to be first at-scale — safely — the best approach to that is to continue the approach that we’ve taken by developing and integrating under one roof with Cruise Automation … and that’s the course that we’re taking for now,” Stevens added.