It's a hard lesson, but extremely valuable, and General Motors ( GM -2.90%) is currently in the process of learning it after ...

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 ...

General Motors said Tuesday it will no longer fund the development of a commercial robotaxi business and will instead absorb its self-driving car ...

In an announcement that’s shocked many, GM has said it will no longer provide funding for Cruise, its robotaxi service. Instead, the automaker says it’s pouring resources into autonomous driving and ...

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.

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 ...

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 ...

The Tuesday announcement that GM is halting additional funding of Cruise’s robotaxi development and repositioning its work to support the carmaker’s own self-driving tech closes a long and ...

This decision is projected to save GM more than $1 billion in annual expenses. General Motors had high hopes for Cruise and was planning to revolutionize transportation with the Origin robotaxi.

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 ...

General Motors (GM) pulled the plug on its Cruise robotaxi business on Tuesday night, a move marking a dramatic step back in its autonomous ambitions that began eight years ago. GM said it would ...