GM’s investors school Tesla’s on self-driving hype

Shares in GM barely budged after it unveiled its autonomous vehicle, yet the potential of similar technology helped Tesla top $100 billion in market value. Considering true self-driving remains years away, GM’s owners are more realistic. AntonyMCurrie

Cruise, the self-driving-car outfit majority-owned by General Motors, unveiled its prototype electric autonomous vehicle on Jan. 21. Called the Cruise Origin, it has no steering wheel or pedals.

Chief Executive Dan Ammann said it was “a fully engineered vehicle that’s on its way to production” and would cost roughly half of what it takes to build a high-end electric sports-utility vehicle. It is designed to last for more than a million miles and the company estimates it would be able to cut up to $5,000 in annual transportation costs per household in San Francisco.Separately, in trading hours on Jan. 22 Tesla’s market value surpassed $100 billion for the first time.

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