Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  General Motors names Mark Reuss company president
BackBack

General Motors names Mark Reuss company president

Mark Reuss replaces Dan Ammann, who took over as chief executive of the automaker's majority-owned Cruise self-driving car subsidiary on Jan 1

Photo:ReutersPremium
Photo:Reuters

General Motors Co on Thursday named Mark Reuss president, effective immediately, tapping into his experience in driving the company’s global product development.

Reuss remains focused on rebuilding the Cadillac brand and streamlining GM’s product development operations, while doubling the resources, mainly engineering hours, allocated to electric and self-driving vehicle programs in the next two years, the company reiterated.

GM has budgeted $8 billion for the development of electric and self-driving vehicles, with SoftBank Group and Honda Motor Co pledging to invest $5 billion in GM’s Cruise self-driving unit.

Ammann became chief executive officer of GM Cruise, the self-driving car unit, on Jan. 1.

The appointment of Reuss, a 35-year GM veteran, comes as the No. 1 U.S. automaker cuts back on producing traditional sedans.

In the United States, GM remains strong in pickups and utility vehicles, which accounted for two-thirds of the company’s sales in 2018.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 03 Jan 2019, 09:33 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie