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Cruise LLC was an American self-driving car company that became a subsidiary of General Motors, headquartered in San Francisco, CaliforniaFounded in 2013 by Kyle Vogt and Dan Kan, [4] [5] [6] Cruise tested and developed autonomous car technology.
GM stock was higher in premarket trading. ... 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 ...
Cruise isn't even the first major player to bow out of the race to develop a robotaxi business. Ford ( F ) ended its Argo AI self-driving venture two years ago.
That changes the stock's investment thesis, as Travis Hoium covers in this video. *Stock prices used were end-of-day prices of Dec. 17, 2024. The video was published on Dec. 19, 2024.
Myriad issues led California to revoke Cruise's self-driving permits, with the company subsequently suspending all operations for the foreseeable future.
Cruise Origin, a purpose-built electric, self-driving, shared vehicle sits on display before U.S. President Joe Biden speaks at the grand opening of GM's Detroit-Hamtramck EV Factory Zero on Nov ...
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