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 ...

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 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.

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 ...

While GM has declined to disclose how much revenue such businesses have produced, Barra, with the ending of its Cruise robotaxi operations on Tuesday, made it clear that the automaker's growth ...

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 ...

The Cruise self-driving car unit faced probes from the United States Justice Department and Securities and Exchange Commission (SEC) in January due to an October 2023 mishap where its robotaxis hit a ...

The U.S. is set for a major expansion of autonomous vehicles in 2025, with tech advances, regulatory changes, and new ...

While GM has declined to disclose how much revenue such businesses have produced, Barra, with the ending of its Cruise robotaxi operations on Tuesday, made it clear that the automaker’s growth ...