GM says that the new organization will be headed up by Vice President Jon J. Lauckner. The guy will still retain his standard VP duties, but will also be responsible for directing exactly where the new $100 million venture capital firm goes over the next few years. Hit the jump for the short press release.
* Enhances company's ability to pursue innovative technology
* Provides a path to establish partnerships with other venture capital companies
DETROIT – General Motors today said it 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 July 1, 2010. He was GM vice president of Global Product Planning.
"We are constantly looking for ways to deliver the best technology for our customers," said Stephen J. Girsky, vice chairman and vice president Corporate Strategy and New Business Development. "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."
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.