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GM creates venture capital subsidiary

General Motors has established General Motors Ventures, LLC, a subsidiary designed to help the company identify and develop innovative technologies in the automotive and 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 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.

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