It's a hard lesson, but extremely valuable, and General Motors ( GM -2.90%) is currently in the process of learning it after ...

It’s likely that GM’s move will result in layoffs at Cruise GM’s decision to scrap its robotaxi business comes after years of profligate spending in the hopes of creating a new mobility ...

General Motors said Tuesday it will no longer fund the development of a commercial robotaxi business and will instead absorb ...

In an announcement that’s shocked many, GM has said it will no longer provide funding for Cruise, its robotaxi service.

GM CFO Paul Jacobson added that launching and operating a robotaxi service would take a significant amount of capital, beyond the $10 billion or so GM already spent on Cruise.

As a result, GM said it will no longer fund Cruise’s robotaxi development, given the considerable time and resources needed to scale the business, along with an increasingly competitive robotaxi ...

GM's shutdown of Cruise was the end of an era for them, but robotaxis are roaring ahead in the U.S. and China — in sharply ...

along with an increasingly competitive robotaxi market.” The automaker has invested more than $10 billion in Cruise. GM shares rose 3.2% in extended trading on Tuesday. In 2023, GM CEO Mary ...

GM's stock price jumped after the Cruise news, trading roughly 2% higher after-hours. With the robotaxi operation in the rearview mirror, GM said it's proritizing the development of its Super ...

It is not only Detroit. Across the globe, legacy automakers are in the throes of a reckoning that comes as the guts of ...

General Motors (GM) 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. GM said it would ...