DETROIT -- General Motors has established General Motors Ventures LLC, a new subsidiary designed to help the company identify and develop innovative technologies in the automotive/transportation sector.

Leading the initiative will be Jon Lauckner, who has been named GM vice president and president General Motors Ventures LLC, reporting to Stephen Girsky, GM vice chairman of corporate strategy and new business development. Lauckner's new position is effective July 1. He was GM vice president of global product planning.  

"We are constantly looking for ways to deliver the best technology for our customers," said Girsky. "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."

The new business 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.