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PHOTO CAPTION: Jon Lauckner formerly headed up GM' global product planning,

General Motors Establishes $100M VC Fund

Headed by Jon Lauckner, the investment fund will select technologies that could help its own product development efforts.

Published: 05-Jun-2010

Large companies often become venture capital investors to help bring promising technologies to market sooner, and General Motors just joined that club by setting up a $100 million VC fund.

The announcement is good news for the growing number of start-up companies that have charged into the automotive business recently, from those developing more-efficient gasoline engines to ones working on batteries and other components for plug-in electric hybrid and all-electric cars.

Ultimately, the investment fund should benefit consumers. GM will select technologies that could help its own product development efforts. The company has named Jon J. Lauckner, GM's vice president of global product planning, as the head of the new General Motors Ventures.

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