Hyperdrive
GM-Backed Cruise Sees Big Profits From Its $50 Billion in Sales
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General Motors Co.’s self-driving car unit Cruise LLC is making some bold claims about the profit potential of its robotaxi business, saying it could grow to $50 billion in revenue and have margins in the ballpark of 40%.
Company Chief Executive Officer Dan Ammann said at GM’s investor presentation Wednesday that Cruise, which is majority owned by the automaker, should be able to get to $50 billion in sales -- which Bloomberg had reported earlier -- in about six years.