- General Motors Co’s (NYSE:GM) venture capital arm has invested millions of dollars in Oculii, a U.S. startup maker of software for radar sensors used in self-driving cars, Reuters reports. The financial terms of the deal remain undisclosed.
- GM can utilize Oculii’s low-cost software to boost the resolution of radars and scale up its partially automated vehicles and fully self-driving cars.
- Tesla Inc (NASDAQ:TSLA) dropped radar sensors from its volume models this year, alluding to them as “crutches,” inviting questions about the safety and performance of its advanced driver assistant system.
- Oculii co-founder Steven Hong expected Tesla to adopt radars as the prices have declined. He said that high-resolution radars are a pivotal backup to cameras and other sensors when they fail.
- Price Action: GM shares traded higher by 1.88% at $50.42 in the market session on the last check Monday.
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