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 ...

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.

GM is dropping robotaxi efforts “given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market,” the company said ...

Eight years and $10 billion later, GM has decided to pull the plug on its grand robotaxi experiment. The automaker’s CEO, Mary Barra, made the surprise announcement late on Tuesday, arguing that ...

GM said it would no longer fund work on the robotaxis “given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi ...

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 ...

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

When GM decided to retreat from the robotaxi business earlier this month, it had already poured $10 billion into Cruise.

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

Tesla's risks include a selloff following FY24 earnings, especially if 2025 EV sales guidance is lowered. See why I rate TSLA ...