General Motors said it would no longer fund its Cruise robotaxi service as it seeks to focus its spending on autonomous vehicle development specifically for personally owned vehicles. Now Cruise ...

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

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 ...

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 ...

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 ...

This decision is projected to save GM more than $1 billion in annual expenses. General Motors had high hopes for Cruise and was planning to revolutionize transportation with the Origin robotaxi.

The automaker is folding Cruise, its San Francisco-based subsidiary, into its in-house efforts to develop autonomous driving for personal vehicles.

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 ...

If there was one phrase that captured the vibe and theme of 2024 — at least in the transportation sector — it was "business ...

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 ...