Americans have been dreaming of the autonomous taxi for over a century.
. But with the advent of ride-hailing services like Uber, the focus at the start of the 2010s started to shift into more of a taxi-hailing model, with many people predicting no one in a given city would actually own a car.
Vogt highlighted some of the big reasons he believes consumers enjoy driverless taxis more than sitting in cars with human Uber drivers.“There’s no more anxiety about getting in a car with a stranger, which is something we hear over and over from women. There’s no more being forced into your driver’s personal life, you know, you’re overhearing their personal conversations, you’re listening to their music.
Where does Vogt see the company going after 2023? The CEO said he expects Cruise to hit $1 billion of annual revenue by 2025.“Moving beyond that to 2024 and 2025, the question becomes how quickly can we build AVs? And that’s the number one thing that influences top line revenue. It’s pretty simple, more AVs, more revenue potential. If you don’t have AVs, you can’t make money and also tied to profitability. Fortunately, as you can see here, that’s something GM knows how to do,” Vogt said.
The CEO also noted that he believes Cruise is way ahead competitors thanks to partnering with General Motors, which brings experience in the electric vehicle market.“And at Cruise, we think of it like a cheat code in a video game. We get to skip forward ten years. Because other companies are struggling to figure out how to build EVs at all or do it reliably and at scale. And we’ve got a partner in GM who can do it like the back of their hand,” Vogt said.
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