GM sees self-driving vehicles in cities in 2019 (GM)

GM sees self-driving vehicles in cities in 2019 (GM)

General Motors Co.is one of many auto companies interested in the future of self-driving cars, and today the 109-year-old vehicle maker announced that it plans to launch its own autonomous taxi service in 2019, going head to head with similar projects being developed by traditional rivals like Ford Motor Co. and new competitors like Alphabet Inc.'s Waymo and Uber Technologies Inc.

The vehicles will not include a human driver, yet will be able to navigate themselves around the most complex of urban environments - where today's self-driving technologies struggle the most. He told investors that the revenue generation of one self-driving auto could eventually hit "several hundred thousands of dollars", compared to the $30,000 that GM collects per non-autonomous vehicle, on average. Waymo, formerly a Google company and now operated by Google parent Alphabet, also expects to offer fully autonomous driving by the start of the next decade, along with Uber and Tesla.

Soon after announcing a future rollout of autonomous Bolts to New York City, General Motors has laid out its plan for autonomous ride-sharing to investors, and while only general details are available at the moment, we have learned some interesting tidbits about GM's plans. The robo-taxi could earn revenue in the "several hundred thousands of dollars" region, Ammann said, compared to the $30,000 average revenue earned from GM cars sold today. The automaker's president Dan Ammann reportedly said during the event that GM now makes about $30,000 per sold vehicle, but that it could make hundreds of thousands per vehicle through ride-hailing and delivery services.

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"Everything we are doing is geared to speed", GM's president, Daniel Ammann, told journalists at an event showcasing the cars Tuesday.

The Cruise Automation team is now testing its self-driving Chevy Bolt - with a human backup - in Detroit, Phoenix and San Francisco.

It is now unclear how GM's ride-hailing service will compete with industry rivals like Uber, or how exactly GM will market its services.

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