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GM launches $100 million Ventures group to focus on new technology

Submitted by: John Warner on Jun 05, 2010 at 5:20 pm Tagged with: Automotive, Venture Capital Source: General Motors Ventures

Robert Snell / The Detroit News

General Motors Co. said today it has formed a $100 million venture capital subsidiary that will hunt for and develop technologies that can be used in the automotive and transportation industry.

The subsidiary, General Motors Ventures LLC, will be headed by Jon Lauckner, who was GM's vice president of global product planning. He will report to Vice Chairman Stephen Girsky.

"We are constantly looking for ways to deliver the best technology for our customers," Girsky said. "Our goal is to nurture these innovative technologies to help bring them to market and to ensure our customers have access to the best technology available."
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The $100 million is an initial investment. GM said it is looking for opportunities to spend the money on auto-related technologies and business models.

The investment could vary in amount and type, but GM is looking to invest in start-up venture capital companies and could take an ownership stake in the technologies, spokeswoman Sherrie Childers Arb said.

Possible investments could include battery technology that would aid GM's push into electric vehicles or infotainment investments that could enhance the value of OnStar, the automaker's safety and navigation service.

"We have some technologies that we feel we have a leadership position in but have work to do in other areas," she said. "We want to see what else is out there."

Lauckner's new role creates yet another shakeup in GM's executive ranks. Steve Carlisle, vice president of U.S. sales, will fill Lauckner's job as vice president of global product planning.

Carlisle will be replaced by Don Johnson, who headed sales, service and marketing for GM's international operations.

From The Detroit News: http://www.detnews.com/article/20100604/AUTO01/6040399/GM-launches-Ventu...