Cruise Automation Expands Operations to Pasadena
Cruise Automation, General Motors’ self-driving technology subsidiary, already has a major presence in Northern California, seeing as how its headquarters is located in San Francisco. According to reports, GM is looking to expand Cruise’s presence in Southern California as well.
That is why Cruise Automation is leasing space in a two-story building located in Pasadena.
A Shocking Promotion: Volkswagen ends up advertising the Chevy Bolt
The building in question is located near the Hastings Village Shopping Center. Cruise Automation will lease approximately 47,051 square feet of office space in the building.
“This lease signing is a major win for the City of Pasadena,” Kevin Duffy, a representative from the commercial real estate and investment firm CBRE. “Capturing yet another significant engineering/technology tenant provides further evidence that Pasadena is an extremely desirable and ever-growing tech hub in Southern California with access to intellectual capital.”
Set Your Own Yearly Goals: 2019 Resolutions for you and your car
Pasadena won’t be the only location GM is looking to expand its Cruise operations to. The automaker has already announced that Cruise Automation will soon have a presence in Seattle as well. That particular expansion could see the addition of up to 200 engineers for the initiative.
GM originally purchased cruise back in 2016 in order to help accelerate its autonomous vehicle efforts. At the time, GM paid $1 billion to make Cruise a subsidiary of the company.
Today, estimates place Cruise Automation’s value at just over $14 billion. As such, GM’s decision to purchase Cruise was certainly a lucrative one, and the company’s decision to expand Cruise Automation’s operations to two separate cities shows that GM is committed to its self-driving division.
News Source: FutureCar