General Motors’ majority-owned driverless car subsidiary Cruise is expected to tell investors that it sees a path for its ride-hailing business to reach $50 billion (£37 billion) in revenue as the company ramps up over the next couple of years.
Bloomberg is reporting that Cruise Chief Executive Officer Dan Ammann is expected to say the company plans to charge for rides as soon as next year and could expand the business in 2023 if Cruise gets the green light from the California Public Utility Commission.
It says charging for self-driving vehicle services would be a significant step for Cruise and others that have spent billions trying to get autonomous technology ready and regulatory permission to run cars without a human safety driver. Ammann is expected to show how Cruise can increase revenue to $50 billion or more and provide analysts with details on cost per mile to consumers.
Cruise plans to expand its services beyond San Francisco with four- to six-passenger Origins eventually, but needs permission from the National Highway Traffic and Safety Administration to put the shuttle on public roads.
(Picture – Cruise)
