Cruise Self-Driving Cars: Commercial Operations in 2022

General Motors and Cruise's Autonomous Vehicle Progress

Mary Barra, CEO of General Motors, has expressed strong confidence that driverless operation of Cruise vehicles will be achieved by 2022.

This projection aligns with a previously stated timeline from Cruise CEO Dan Ammann, revealed during a recent investor day event hosted by the automaker.

Commercial Operations on the Horizon

The announcement coincides with preparations from multiple autonomous vehicle companies to initiate or broaden their commercial service offerings.

Cruise is poised to begin early commercial deployments of its autonomous robotaxi and delivery services.

Vertical Integration: A Key Advantage

A significant factor contributing to Cruise’s potential success is its close integration with General Motors, a leading automotive manufacturer in North America.

Barra emphasized that this vertical integration is a crucial differentiator, enabling a seamless connection between technology, the Ultium platform, and GM’s manufacturing capabilities.

Regulatory Approvals Nearing Completion

Cruise recently obtained a “driverless deployment permit” from the California Department of Motor Vehicles, a vital step towards offering paid driverless rides.

Currently, the company awaits only one remaining permit – from the California Public Utilities Commission – before launching its commercial robotaxi service in San Francisco.

Barra highlighted that Cruise remains the sole entity authorized to provide fully driverless ride-hailing services within the city.

Financial Performance and Outlook

These statements were made during General Motors’ second-quarter earnings call.

The company reported revenues of $26.8 billion, representing a 25% decrease compared to the $35.5 billion recorded in the same quarter of 2020.

This decline is primarily attributed to the ongoing global semiconductor shortage, which has disrupted production and reduced vehicle inventory at dealerships.

Earnings Report Details

GM’s net income for the third quarter was $2.4 billion, a reduction from the $4.1 billion earned during the same period last year.

Barra acknowledged the challenges posed by the semiconductor pressures in a letter to shareholders.

Despite these financial headwinds, GM executives maintain a positive outlook, anticipating full-year earnings to fall within the upper range of their adjusted guidance, between $11.5 billion and $13.5 billion.