GM Reaches Milestone as Cruise & Waymo Launch Autonomous Robotaxi Service in SF

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General Motors ($NYSE:GM) (GM) has achieved a major milestone as Cruise and Waymo, two of its autonomous vehicle subsidiaries, are nearing the launch of a completely driverless ride-hailing service in San Francisco. Since then, the company has invested billions of dollars into developing self-driving technology and has been testing autonomous vehicles on public roads. The new driverless taxi service will be a major milestone for the company, as it will be one of the first times its autonomous vehicles have been used by the public. For GM, this milestone represents a significant step forward in the development of its autonomous vehicle technology.

This new driverless taxi service could be the first of many for GM, as the company has plans to expand its presence in the ride-sharing and taxi market. It also opens up new opportunities for GM to partner with other companies to develop additional autonomous services. As the industry evolves, GM will be well-positioned to benefit from this new wave of transportation.

Share Price

On Friday, GENERAL MOTORS reached a milestone when Cruise, the company’s self-driving car unit, and Waymo, Google’s autonomous vehicle technology spin-off, launched the first joint robotaxi service in San Francisco. Despite this major accomplishment, the company’s stock opened at $33.1 and closed at $32.7, down by 0.7% from its last closing price of 32.9. The robotaxi service marks a new era in self-driving technology and is set to revolutionize transportation. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

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Analysis

At GoodWhale, we recently conducted an analysis of GENERAL MOTORS‘ financials. Our Risk Rating analysis determined that GENERAL MOTORS is a low risk investment in terms of both financial and business aspects. Further investigation identified three risk warnings in the income sheet, balance sheet, and cashflow statement. At GoodWhale, we believe that it is important to be aware of any potential threats to investments before committing. If you’re interested in learning more about the risk warnings we have detected in GENERAL MOTORS’ financials, you can register with us to get the full details. More…

Peers

General Motors Co, Stellantis NV, Toyota Motor Corp, and Ford Motor Co are all leading automobile manufacturers. They each have their own unique history and strengths, but they are all competitive in the market today.

– Stellantis NV ($NYSE:STLA)

Stellantis NV is a holding company that was created in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company is headquartered in the Netherlands and is majority owned by the French automaker Groupe PSA. Stellantis is the fourth-largest automaker in the world by sales, with a portfolio of 14 brands that include Fiat, Chrysler, Jeep, Dodge, Ram, Alfa Romeo, Lancia, Maserati, Peugeot, Citroën, DS, Opel, and Vauxhall.

– Toyota Motor Corp ($TSE:7203)

Toyota Motor Corp is a Japanese multinational corporation that manufactures vehicles. It has a market cap of 27.43T as of 2022 and a Return on Equity of 11.32%. The company produces vehicles under five brands, including Toyota, Lexus, Daihatsu, and Hino.

– Ford Motor Co ($NYSE:F)

Founded in 1903, Ford Motor Company is an American multinational automaker that has its main headquarters in Dearborn, Michigan. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom, and a 49% stake in Jiangling Motors of China. It also has joint-ventures in China, Taiwan, Thailand, Turkey, and Russia. The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power.

As of 2022, Ford Motor Company’s market capitalization is $47.32 billion, and it has a return on equity of 23.7%. The company’s main business is the manufacture and sale of automobiles and light trucks. In addition to its core automotive business, Ford also operates in the financial services sector through its Ford Motor Credit Company subsidiary.

Summary

Analysts have noted the company’s strong global presence, focus on innovation and solid financial performance. GM is involved in the production of electric vehicles, autonomous vehicles, and advanced safety technologies, all of which are driving the company’s growth. The company has also been successful in cutting costs and increasing efficiency.

GM is committed to sustainability and has invested in renewable energy sources, further improving its environmental record. With its strong balance sheet and good performance in the market, investors can expect to see continued growth in the future.