GM investing $14M in, adding 1,100 jobs at Cruise Automation
It's also getting a sweet tax break in the process.
Early in 2016, General Motors purchased Cruise Automation to bolster its self-driving efforts. Now, it's tossing the subsidiary some extra cash, creating some new jobs in the process.
General Motors will add more than 1,100 jobs at Cruise Automation over the next five years. Before that, it will need to expand, and it's doing so with a $14 million investment in a new R&D facility in San Francisco.
As a resident of the metro Detroit area, I'm still on the lookout for an autonomous Bolt EV, but I haven't seen one yet.
"We are excited to significantly expand our footprint in California and continue on our rapid growth trajectory," Kyle Vogt, CEO of Cruise Automation, said in a statement. "As autonomous car technology matures, our company's talent needs will continue to increase. Accessing the world-class talent pool that the San Francisco Bay Area offers is one of the many reasons we plan to grow our presence in the state."
Instead of building a brand-new facility, Cruise will repurpose a facility in San Francisco to more than double its R&D floor space. Not only does Cruise have GM's $14 million infusion, it also received an $8 million tax break from the state, part of the California Compete Tax Credit program, which offers breaks in exchange for adding more well-paying jobs in California.
Despite being acquired by GM last March, Cruise operates as an independent startup within GM's Autonomous Vehicle Development Team. In conjunction with GM's own engineers, the company is testing "more than 50" Chevrolet Bolt EVs equipped with autonomous tech in three different markets -- Arizona, San Francisco and the metro Detroit area.
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