IPO Is First Stop for GM Self-Driving Unit
Separating out the business would provide greater financial flexibility. Longer term, it could set up Cruise for a merger.
Pulling ahead.
Photographer: Patrick T. Fallon/Bloomberg
General Motors Co. is going the distance with autonomous cars.
As reported by Bloomberg News last week, the automaker is contemplating strategic options for its Cruise autonomous vehicle unit including a public stake sale and a tracking stock. A decision isn't imminent as GM first wants to position the business for commercial success, but a conversation about a public-market future for Cruise is in itself notable, especially coming on the heels of SoftBank Group Corp.'s $2.25 billion investment in the business. It's a testament to how far GM has come in the battle for self-driving leadership, but also casts an unflattering spotlight on rival Ford Motor Co.'s own adventures in autonomous vehicles.