Ultimately, the dispute was about control: In the vision shared by Barra and the board, keeping Cruise in-house gave GM both a high-margin robotaxi business and more direct access to the company’s resources.
His decision caught White House officials by surprise after he had given President Biden just days ago an outline of a $1.8 trillion plan he could support, Bloomberg reported.
The auto-retail investment company expanded its dealership investments in 2021. Last year, it announced it had partnered with Bain Capital Credit. Now it’s using that funding to work with franchisees and help them grow.
With investor backing and a host of deals under his belt, he is tasked with leading the company as it looks to roll out its technology on semitrucks and passenger vehicles.
CEO Maxwell Zhou also envisions DeepRoute.ai’s self-driving, medium-duty trucks will help solve the supply chain issues brought on by COVID-19.