GM Creates Venture Capital Subsidiary, Targeting Innovative Tech in Automotive/Transportation Sector
General Motors has established General Motors Ventures, LLC, a subsidiary designed to help the company identify and develop innovative technologies in the automotive/transportation sector.
Leading the initiative will be Jon J. Lauckner, who is named GM Vice President and President General Motors Ventures, LLC, reporting to Stephen J. Girsky, GM vice chairman of Corporate Strategy and New Business Development. Lauckner’s new position is effective 1 July 2010. He was GM vice president of Global Product Planning.
General Motors Ventures, LLC, has been funded with an initial investment of $100 million, and is currently exploring equity investments in a number of auto-related technologies and business models.