How Cruise (Not Tesla) Is Leading the Way in Autonomous Driving

By Travis Hoium – Sep 29, 2022 at 4:36PM

NYSE: GM

General Motors

Market Cap

$52B

Today's Change

(1.02%) $0.46

Current Price

$45.54

Price as of April 25, 2024, 12:32 p.m. ET

Cruise will expand commercial operations to two new cities by the end of 2022.

General Motors (GM 1.02%)-owned Cruise is launching its autonomous ride sharing service in Phoenix, Arizona and Austin, Texas by the end of 2023, tripling the number of cities where it will have commercial operations. If this is a preview of what's to come, Cruise will have a big head start over companies like Tesla (TSLA 0.78%) in autonomous ride sharing, a potentially massive disruption to the transportation market.

*Stock prices used were end of day prices of Sept. 29, 2022. The video was published on Sept. 29, 2022.

Travis Hoium has positions in General Motors and has the following options: long March 2023 $250 puts on Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.