GM-Backed Cruise Sees Robotaxi Unit Growing Past $50 Billion

Cruise LLC, the autonomous vehicle startup majority-owned by General Motors Co., will tell investors this week that it sees a path for its ride-hailing business to reach $50 billion in revenue as the company ramps up over the next couple of years, people familiar with the matter said. GM’s shares jumped.

Cruise Chief Executive Officer Dan Ammann is expected to say the company plans to charge for rides as soon as next year and could expand the business in 2023 if Cruise gets the green light from the California Public Utility Commission. Cruise will take a starring role this week as GM makes its case to investors on Oct. 6 and 7 that its push into electric vehicles, self-driving software and connected technologies will soon start increasing the automaker’s revenue, said the people, who asked not to be named because the details haven’t been revealed.