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[ Wed, Dec 11th 2024 ]: CNN
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[ Wed, Dec 11th 2024 ]: Newsweek
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[ Wed, Dec 11th 2024 ]: Investopedia
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[ Wed, Dec 11th 2024 ]: Bloomberg L.P.
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[ Wed, Dec 11th 2024 ]: AOL
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[ Wed, Dec 11th 2024 ]: Reuters
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[ Wed, Dec 11th 2024 ]: Fortune
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[ Wed, Dec 11th 2024 ]: Independent.ie
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[ Wed, Dec 11th 2024 ]: Yahoo Finance
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[ Tue, Dec 10th 2024 ]: AOL
General Motors to stop funding its Cruise robotaxi business

GM's Cruise robotaxi exit a result of 'serious problems' from scaling too fast and continued high costs

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General Motors pulled the plug on its Cruise robotaxi business on Tuesday night, a move marking a dramatic step back in its autonomous ambitions that began eight years ago.
General Motors' autonomous vehicle subsidiary, Cruise, has decided to exit its robotaxi operations in several cities including Phoenix, San Francisco, and Austin, following a series of safety concerns and regulatory scrutiny. This decision comes after an incident in October where a Cruise robotaxi was involved in an accident with a pedestrian in San Francisco, leading to the suspension of its driverless testing permit by the California DMV. The company is now focusing on rebuilding trust and enhancing its technology, with plans to relaunch in one unspecified city initially. Cruise has also undergone significant layoffs, reducing its workforce by about 25%, and is currently under investigation by the U.S. Justice Department and the Securities and Exchange Commission. The exit from these markets is part of a broader strategy to reassess and improve its autonomous driving technology before expanding again.

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