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GM to exit Cruise robotaxi business

GM to exit Cruise robotaxi business


Published on 2024-12-10 17:40:47 - Yahoo Finance
  Print publication without navigation

  • General Motors said on Tuesday it will stop funding and exit robotaxi development at its majority-owned Cruise business, a blow to the automaker that had made the advanced technology unit a top priority.

General Motors (GM) has decided to discontinue the development of a new vehicle for its Cruise autonomous vehicle unit, as reported by Reuters. This decision comes in the wake of a series of challenges for Cruise, including a significant accident involving one of its robotaxis in San Francisco, which led to the suspension of its driverless testing permit by the California Department of Motor Vehicles. The incident involved a Cruise vehicle dragging a pedestrian after a collision with another vehicle. Following this, Cruise recalled all 950 of its vehicles to update software to prevent similar incidents. Additionally, Cruise has been under scrutiny from federal regulators and has faced internal leadership changes, with the co-founders stepping down from their management roles. The termination of the new vehicle project reflects GM's strategic reevaluation of its investment in Cruise amidst these operational and regulatory hurdles.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/general-motors-drop-development-cruise-211931620.html ]
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