Balanced News: GM absorbs commercial EV unit BrightDrop, CEO is out

General Motors (GM) is absorbing its commercial electric vehicle (EV) subsidiary, BrightDrop, into the company. BrightDrop CEO Travis Katz has stepped down, while CTO Anthony Armenta will join GM’s software division. Some positions at BrightDrop will be eliminated, but most employees are expected to be able to move to other jobs within GM. The move is aimed at benefiting fleet customers by providing a single point of contact through GM’s new commercial brand, GM Envolve. BrightDrop was created to sell electric and connected products to commercial customers and had ambitious revenue goals of $1 billion by 2023.