GM: Past Is Prologue?
One upon a time, the Old GM, flush, apparently, with cash, investment in all manner of companies. You could buy a robot from a GM-joint venture. You could buy a vision system from a company that was largely backed by the General.
That was then. Now the New GM is more focused, right?
On Friday GM announced the formation of General Motors Ventures, LLC. It is being funded with “an initial investment of $100-million.” GMV is being headed by Jon J. Lauckner, former GM vp of Global Product Planning. The new title is GM vice president and president of General Motors Ventures.
He will be reporting to Stephen J. Girsky, GM vice chairman Corporate Strategy and New Business Development. Girksy used to be an auto analyst with Morgan Stanley. He was hired as an advisor by former GM CEO Rick Wagoner, then spent a couple of years at a private equity group, then back to GM as a member of the board before being named to his present position.
In making the announcement of GMV, Girsky stated, “We are constantly looking for ways to deliver the best technology for our customers. Our goal is to nurture these innovative technologies to help bring them to market, and to ensure our customer have access to the best technology available.”
Seems like old times.