Autonomous driving and car sharing could soon emerge as viable alternate transportation models. During its global business conference, General Motors (GM) outlined a roadmap on how it plans to play the autonomous space. Tesla (TSLA) and Google (GOOG) are also working on autonomous technology.
General Motors currently has a partnership with Mobileye (MBLY) in its autonomous driving project. GM is working to build more strategic partnerships with several non-automotive companies to roll the autonomous project out faster. Currently, GM forms 0.21% of the Guggenheim S&P 500 Equal Weight ETF (RSP).
General Motors is working on a pilot project, which is expected to be rolled out next year from its tech center in Warren, Michigan. The company plans to have a fleet of autonomous Volts on its Warren campus by next year. Currently, GM has a car sharing fleet on its Warren campus. The program, which has been operational since mid-2014, has “already completed over 3,000 trips,” according to GM.
General Motors also announced the launch of its car-sharing model in New York. The company has been running a pilot program since June 2015. General Motors has entered into partnerships with Icon Parking and Stonehenge. As part of its initiative for Stonehenge, GM is offering a three-hour free ride every month. According to GM, the ride is an “amenity included in the rent payment that the owners of these apartments make.” The residents can use the vehicle for a longer period by paying the appropriate charges. GM noted that it is planning to launch a car-sharing service in another US city in 1Q16.
In the next part, we’ll discuss how GM is progressing in alternate fuel technology.