Seeing No Road To Profit, Gm Shutters Cruise

After spending more than $10 billion to try to develop an autonomous robotaxi, General Motors is now calling time on the endeavor. On Tuesday afternoon, the automaker announced that it is done investing in Cruise's robotaxi development and will instead combine the startup's technical team with its internal efforts at GM. After several years, GM has accepted the inevitable: Given the costs, there's no way to build a profitable robotaxi business.

Topics:  general motors   mary barra   ceo   gm cruise   gm s   comments   cruise   gm   profit   robotaxi   billion   
BING NEWS:
  • Seeing no road to profit, GM shutters Cruise
    GM bought into Cruise in 2016, when self-driving fever was at its peak. It had lofty goals of deploying robotaxis in a number of major US cities, and as early as 2019, it was lobbying the National ...
    12/10/2024 - 8:47 pm | View Link
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