General Motors is a car maker company that has taken a number blows below the belt, putting into tight positions like bankruptcy in 2009 that resulted in their making of drastic decisions such as becoming smaller, producing underperforming brands to ensure a lean, mean and sustainable business, then the selling of one of its divisions the Opel to Peugeot which it had owned as far back as the early 20th century, leaving of the Russian Market and focusing to maximize profits in the United States and China.
With the Wall Street Journal none of these were reported but now with a truly impressive come back the car maker company is on Wall Street Journal with its plans to make a launch of numerous electric cars with its Maven brand and to expand its self driving car products through its 2016 acquisition cruise Automation which is also a San Francisco based start up. General Motors published recently among others yet another profitable quarter which went over the expectations of Wall Street for Q3 results not to mention the continued pattern of surging to posts -IPO- high stock prices, trading at $46,up almost 3% and so indeed Wall Street appreciates what it sees.
The Chief Executive Officer of General Motors Mary Barra told Wall Street that the next generation of the company’s autonomous vehicles will come very soon. The company is building a big lead in the driverless area and potential competitors do not have access to consumer mobility.
So serving as a wake up call in the field of self driving cars is the rate of General Motors attack on the industry. Following the explanation of the Chief Executive Manager of General Motors Mary Barra on a conference call with analysts soon after the announcing of earnings “GM and Cruise Automation recently deployed our latest generation self-driving electric test vehicle.” She continued saying “We believe it will meet the redundancy and safety requirements necessary to operate without a driver. It is our third generation of AV technology in just 14 months.” Noting that the third-generation isn’t going to be around for too long, however, in response to a question from Morgan Stanley analysts Adam Jonas, Barra said “we’re working on our fourth generation, that’s where our focus is right now.”
General Motors-Cruise deal has led to the rollout of a fully integrated autonomous electric car — the tech is being built into Chevy Bolt EVs — that’s being fleet-tested in San Francisco, Detroit, and Phoenix, with New York City to follow in 2018.