11 sources·Business

GM Ceases Funding for Cruise, Shifts Focus from Robotaxis to Driver Assistance Tech

General Motors discontinues its investment in Cruise's robotaxi division, pivoting towards enhancing driver-assist technologies following significant financial losses.

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Updated: Dec 10th, 2024, 10:47 PM ET

Summary

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General Motors has announced it's stopping funding for its Cruise robotaxi unit due to high operational costs and an increasingly competitive market. GM plans to redirect focus towards developing driver-assist technologies for personal vehicles. The restructuring will involve integrating Cruise's staff with GM's resources. Since acquiring Cruise in 2016, GM has incurred over $10 billion in losses from the division, despite initially aiming for it to generate substantial revenue by 2025. The shift represents a significant change in GM's strategy, amidst challenges in the broader autonomous vehicle industry.

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