Hoping to catch Tesla, GM just bought Cruise Automation for $1 billion

[Guest Yoni Heisler]

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With companies like Google, Tesla and reportedly Apple working on delivering autonomous vehicle technology to the masses, traditional auto manufacturers have begun taking steps to ensure that the industry doesn't pass them by.

 

Case in point: General Motors today announced its plan to acquire Cruise Automation, a company that achieved acclaim by selling sensor-laden "kits" that enabled car owners to add autopilot driving features to their cars after-market. Though financial details of the acquisition weren't publicly released, it's believed that GM picked up the company for more than $1 billion.

 

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Via BRG - Boy Genius Report