Self-driving car startup Drive.ai names former GM exec to board

By Alexandria Sage | SAN FRANCISCO SAN FRANCISCO Aug 30 Silicon Valley self-driving startup Drive.ai has named to its board a former Wall Street investment banker and General Motors Co executive as investor interest in autonomous vehicles intensifies. Steve Girsky, a former GM vice chairman and Morgan Stanley alum, was named a Drive.ai director on Tuesday. The appointment comes roughly five months after GM bought Cruise Automation, a one-time rival of Drive.ai, for $1 billion. Just earlier this month, Uber acquired another one-time rival, Otto, for an undisclosed sum estimated at close to $700 million. Drive.ai is one of a handful of startups building fully autonomous systems for cars, a sector that has drawn more attention since the Cruise and Otto deals. Drive.ai plans to distinguish itself through the team’s…


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