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A General Motors Cruise self-driving car, often referred to as a robotaxi, drives in front of the Ferry Building on the Embarcedero, San Francisco, Calif., Aug. 17, 2023.
Since GM bought a controlling stake in Cruise for $581 million in 2016, the robotaxi service piled up more than $10 billion in operating losses while bringing in less than $500 million in revenue ...
Over the years since 2016, when GM acquired the robotaxi startup, the automaker has plowed more than $10 billion into Cruise. General Motors had grounded its fleet at the end of last year after an ...
Still, some investors seemed to welcome GM's decision to pull Cruise's funding in favor of $2 billion in annual savings, sending GM's stock price up more than 3% in after-hours trading Tuesday ...
The automaker has invested more than $10 billion in Cruise since 2016. Cruise will be folded into its group working on driver assistance technology. GM to exit loss-making Cruise robotaxi business
GM's decision shows that time and money may not be enough when it comes to robotaxis. General Motors' decision to pull the plug on Cruise shows that building a robotaxi business is hard, really ...
General Motors' decision to pull the plug on its troubled Cruise robotaxi business highlights the harsh reality facing others still in the race: it requires a long-term commitment to perfect the ...
Cruise was supposed to be the shiny new piece of technology that could reposition $57 billion General Motors from a legacy automaker into a true, innovative Tesla rival for the auto industry's ...