General Motors to stop funding its Cruise robotaxi business

Business and Finance Business and Finance

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General Motors to stop funding its Cruise robotaxi business

^{Published on 2024-12-10 19:20:48 - AOL}

General Motors will stop funding its Cruise robotaxi business and focus on developing self-driving technology for personal vehicles, the automaker said in a statement on Tuesday.

General Motors (GM) has decided to halt its funding for Cruise, its autonomous vehicle subsidiary, following a series of operational setbacks and safety concerns. This decision comes after Cruise had to pause all its driverless operations due to an incident involving one of its robotaxis in San Francisco, which led to the revocation of its license by the California Department of Motor Vehicles. The incident involved a Cruise vehicle that was not able to adequately respond to an emergency situation, raising significant safety and regulatory issues. As a result, GM, which had previously invested heavily in Cruise, is now reevaluating its financial support, focusing instead on ensuring that Cruise can meet safety standards and regain public trust before resuming operations. This move reflects broader challenges in the autonomous vehicle industry regarding technology reliability, regulatory compliance, and public acceptance.

Read the Full AOL Article at:
[ https://www.aol.com/finance/general-motors-stop-funding-cruise-214509589.html ]

N@N

General Motors to stop funding its Cruise robotaxi business