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NewsGM's Dan Ammann takes over as CEO of Cruise Automation

21:55  30 november  2018
21:55  30 november  2018 Source:   cnet.com

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GM President Dan Ammann has been named CEO of Cruise Automation , a company whose acquisition by GM he spearheaded in 2016. Cruise also recently received a .75 billion investment from Honda and Japanese investment group, Softbank. The company is currently sitting on a .6

Ammann will take over as CEO from Jan. 1 2019, while Vogt will be President and CTO of the self-driving car company. As a result of the upcoming change, GM ’ s global regions and GM Financial will report directly to Barra, the company said. Kyle Vogt, cofounder of Cruise Automation , speaks at the

GM's Dan Ammann takes over as CEO of Cruise Automation© CNET GM President Dan Ammann has been named CEO of Cruise Automation, a company whose acquisition by GM he spearheaded in 2016.

The business of developing self-driving cars is booming, and if you want proof of that, look no further than Cruise Automation's Thursday announcement that it has appointed GM President Dan Ammann as its new CEO. Company founder Kyle Vogt will work alongside Ammann as Cruise's chief technology officer and president beginning on Jan. 1, 2019.

Dan Ammann led the charge in General Motors' acquisition of Cruise back in 2016 and was the company's lead point of contact at GM. Since his appointment to president at GM, Ammann has been in charge of GM Financial and was instrumental in the sale of Opel to the PSA Group.

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Cruise Automation , the self-driving car subsidiary of GM , is getting a new CEO . The autonomous vehicle company, which was acquired The changes take effect January 1, 2019. The executive -level shuffling makes sense for Cruise , which has transformed from a small startup with 40 employees to

Cruise LLC, commonly referred to as Cruise , is an American self-driving car company headquartered in San Francisco, California. Founded in 2013, by Kyle Vogt and Dan Kan

"These appointments further demonstrate our commitment to transforming mobility through the safe deployment of self-driving technology and move us closer to our vision for a future with zero crashes, zero emissions and zero congestion," said Mary Barra, GM chairperson and CEO. "As we move toward commercial deployment, adding Dan to the strong team led by Kyle is the next step."

Cruise also recently received a $2.75 billion investment from Honda and Japanese investment group, Softbank. The company is currently sitting on a $14.6 billion valuation.

This was originally published on Roadshow.

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1, GM President Dan Ammann becomes CEO of GM Cruise . Cruise cofounder Kyle Vogt stays on as president and chief technology More autos: GM , Honda are betting Cruise founder Kyle Vogt can lead the autonomous car pack. Honda will contribute about billion over 12 years to these goals.

Dan Ammann , right, will take over as chief executive of Cruise , the autonomous-vehicle unit of General Motors . A top General Motors official is taking on a new role that underlines the auto industry’ s intense push to develop and commercialize self-driving cars.

Read more research on the latest autonomous car tech on MSN Autos | Follow MSN Autos on Facebook and Twitter

Audi to drop $16 billion on electrification, autonomy by 2023.
The money won't just be spent on cars. It'll also cover investments in the equipment and factories required to make 'em.

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