- General Motors' (NYSE:GM) Cruise business is expanding self-driving automobile operations internationally to Dubai.
- In an announcement today, officials in Dubai said Cruise inked an agreement with the Dubai Roads and Transport Authority to be the exclusive provider for self-driving taxis and ride-hailing services through 2029.
- Cruise expects to operate a fleet of up to 4K self-driving vehicles in Dubai by 2030.
- The deal with Cruise is part of a mission for Dubai to reduce transportation costs and convert 25% of trips in the city to self-driving transport by 2030. "The selection of Cruise was not taken lightly. We engaged in a comprehensive, multi-year process to choose the best possible partner," notes Dubai RTA Board Chairman Mattar Mohammed Al Tayer
- Financial terms of the arrangement were not disclosed.
- Shares of GM are up 0.48% in premarket action.
- Last month, Cruise acquired autonomous vehicle player Voyage.