Ammann told investors that the potential lifetime revenue from one self-driving vehicle could be "several hundred thousands of dollars", compared to the average $30,000 GM generates from a auto today, mostly from the sale itself. Earlier this month, GM said it would launch a range of electric vehicles in 2021 in a direct challenge to market leader Tesla, which is struggling to ramp up its more affordable, high-volume Model 3. GM added that there was still much more hard engineering work to be done.
The Detroit automaker made the announcement at an investor presentation in San Francisco Thursday, saying that based on its current rate of change, it expects "commercial launch at scale" of the autonomous vehicles within the next year or so.
Delphi, an automotive supplier, has said it expects commercial vehicles to be using its autonomous system in limited areas in 2019.
Hurricane Harvey Recovery: Strength and resilience after the storm
In comparison, the damage from Hurricane Katrina in 2005 was $108 billion, which has been the costliest hurricane in US history. One of those was Ophelia, which by becoming the 10th straight storm of the season matched a record set in 1893.
GM subsidiary Cruise Automation has been testing autonomous Chevy Bolts in San Francisco, Phoenix and Detroit. Delphi recently bought autonomous software startup NuTonomy and would also partner with BMW AG, chipmaker Intel Corp and camera and visual recognition software maker Mobileye. An employee in the back will be able to stop the vehicle by pushing a button but won't be able to steer the vehicle.
With today's ride-hailing services, consumer do not have to be concerned with having sticker shock for the price of electric vehicles, and automation costs in the first few years will be expensive as well.
Germany's SPD Leader Backs Talks with Merkel on Political Impasse
But it came under pressure to relent and head off fresh elections after Merkel's bid to form a coalition with the ecologist Greens and pro-business FDP fell apart last month.
The ambitious timeline could place GM in an enviable position: with the unique ability to provide existing ride-hailing companies like Lyft or Uber with a growing fleet of autonomous vehicles or, better yet, to unleash their own service.
"It's a big opportunity", GM President Dan Ammann said in an interview in San Francisco this week.
"We have been committed since we first started talking about our efforts and when we purchased a portion of Lyft to building self-driving cars that operate in a ride-sharing environment", Ray Wert, head of Storytelling and advanced technology communications at General Motors, said.
Pics released of girl in Walmart aren't NC AMBER Alert girl
She said her boyfriend saw Mariah around midnight when she got up and he told her to go back to bed. When they went to check on her in the morning, she was gone.
Already, GM is working on testing an autonomous Chevrolet Bolt electric vehicle.
- Big Ol' Scott Frost-Nebraska News Drops While He's Coaching UCF Game
- Shea Patterson given permission to explore transfer from Ole Miss
- Rickie Fowler shoots final-round 61 to win 2017 Hero World Challenge
- Meghan Markle wears Canadian designer Mackage for first royal engagement
- Rescue mission ends for missing Argentinian submarine
- Tunisia coach Maaloul targets World Cup opener against England
- Hand Over the Wu-Tang Album
- Israeli Missiles Hit Military Site Near Damascus Outskirts
- Victoria's Secret is accused of racism yet again
- New York Yankees Will Make Aaron Boone Their New Manager