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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

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Acquisitions Seen in Self-Driving Market -- Update

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10/25/2016 | 07:06pm EDT
By Greg Bensinger 

LAGUNA BEACH, Calif. -- The largest companies with the aim of creating self-driving vehicles will probably acquire smaller ones rather than develop the technology in-house, said Niklas Zennstrom, founder and chief executive of venture firm Atomico Ventures.

"It's really hard for an incumbent to transition themselves into a technology company," Mr. Zennstrom said Tuesday at the WSJDLive 2016 global technology conference here. "You'll see more and more acquisitions."

There have been some signs of consolidation already. General Motors Co. this year bought Cruise Automation Inc. for around $1 billion and invested $500 million into Lyft Inc. with the goal of introducing self-driving cars as soon as next year.

Stephen Jurvetson, partner at venture firm DFJ, said on the same panel that Tesla Motors Inc.'s release of its own driver-assistance software known as Autopilot pushed other companies to consider entering the self-driving vehicle market.

Earlier at the conference, Lyft President John Zimmer said he expects autonomous vehicles to represent the majority of trips on the ride-hailing service.

Separately, when asked about the regulatory and operational troubles of blood-testing firm Theranos Inc., in which DFJ was an early investor, Mr. Jurvetson said, "There is not much we can do when they fail." Mr. Jurvetson said his firm has had little day-to-day dealings with Theranos.

Mr. Jurvetson chided The Wall Street Journal for its "ad nauseam" coverage of the Silicon Valley company over the past year, saying it was "relishing" Theranos's struggles.

A Dow Jones spokesman said: "The Journal is proud of our award winning coverage on Theranos, which has engendered significant reader support."

Write to Greg Bensinger at greg.bensinger@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DEERE & COMPANY -3.50% 214.21 Delayed Quote.23.64%
GENERAL MOTORS COMPANY -4.76% 30 Delayed Quote.-18.03%
TESLA, INC. 1.64% 449.39 Delayed Quote.437.12%
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Financials (USD)
Sales 2020 118 B - -
Net income 2020 2 220 M - -
Net cash 2020 2 012 M - -
P/E ratio 2020 17,5x
Yield 2020 1,28%
Capitalization 42 933 M 42 933 M -
EV / Sales 2020 0,35x
EV / Sales 2021 0,23x
Nbr of Employees 164 000
Free-Float 92,7%
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Technical analysis trends GENERAL MOTORS COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 39,53 $
Last Close Price 30,00 $
Spread / Highest target 100%
Spread / Average Target 31,8%
Spread / Lowest Target -10,0%
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Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
John Stapleton Chief Financial Officer
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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