General Motors has announced a $14 million investment into its Silicon Valley subsidiary, Cruise Automation. The investment will essentially double the self-driving startup’s R&D capacity and ultimately add 1,100 jobs over the next five years.
GM acquired Cruise Automation about a year ago in an effort to accelerate its self-driving vehicle technology. Cruise Automation was founded in 2013 as a start-up offering self-driving technology on the aftermarket. Today the company is testing a fleet of self-driving Chevrolet Bolt EV’s as it continues to operate as an independent entity under GM’s ownership.
Cruise Automation and GM say the $14 million investment will allow them to move even faster on driverless technology and personal mobility offerings. Additionally, it will begin the process of integrating Cruise Automation’s engineering with the global engineering organization at GM.
As part of the investment the state of California has provided the company with an $8 million tax credit to help offset the capital expense.