Self-drive cars are coming in by end of decade, says confident GM CEO
- Mary Barra is sure that autonomous vehicles won't just be a very real possibility by end of the decade but that these would go for scale.
General Motors Co Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong.
Barra told attendees at a Sanford Bernstein conference that she sees a "giant growth opportunity" in GM's Cruise autonomous vehicle unit, and predicted personal self-driving cars would be on the market before the end of the decade.
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Barra reiterated a forecast that Cruise could generate $50 billion a year in annual revenue by 2030. GM currently is losing money on Cruise at the rate of $2 billion a year. Rivals, including Ford Motor Co and Volkswagen AG, have pulled the plug on autonomous vehicle efforts as losses mounted.
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