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General Motors Newsroom
High costs and regulatory crackdowns! General Motors abandons its autonomous taxi Business.
General Motors announced that its autonomous vehicle division, Cruise, will exit the Siasun Robot&Automation taxi business, primarily due to the time and resources required to expand the Business and the increasingly fierce competition in the Siasun Robot&Automation taxi market—this decision comes at a time when Alphabet's Waymo is expanding into more cities and Tesla plans to launch its Siasun Robot&Automation taxi service in 2026.
The cost of autonomous driving taxis is too high, and General Motors (GM.US) has given up on Cruise, receiving approval from Wall Street.
Wall Street maintains an optimistic attitude towards General Motors' decision to terminate the Cruise Business.
Three expected differences of Trump 2.0.
Source: Xue Tao Macro Notes Author: Tianfeng Macro Song Xuetao. The market's perception of Trump's second term has formed increasingly fragmented expectations in terms of policy implementation and specific policy impacts. Currently, the market universally expects better outcomes next year, which requires caution. In the first month after the election, from the unexpectedly strong cabinet selections to the sudden announcement of considering tariffs on Canada and Mexico, the uncertainty and complexity of Trump 2.0 are fully demonstrated. This increases the difficulty for the market to predict the implementation and impact of Trump 2.0 policies, creating some increasingly fragmented expectation gaps. The first type of expectation gap is contradictory policies leading to...
Microsoft Is Losing This Much on GM's Robotaxi Unit Cruise
Microsoft lost approximately $0.8 billion due to Cruise investment
Microsoft said on Wednesday that it expects to accrue impairment charges of about 0.8 billion US dollars in the second fiscal quarter, related to the company's minority investment in Cruise, an autonomous driving company owned by GM. The day before, GM said it would no longer fund this business because it was too expensive to develop this technology and set up a fleet. Microsoft announced a minority investment in Cruise in January 2021 as part of a $2 billion investment in the autonomous vehicle startup, which is mostly owned by GM. The move enabled Microsoft to take over the emerging connected car services market
Here's How Much of a Hit Microsoft Is Taking With Its Investment in GM's Cruise
Tesla Is Analyst's Top 2025 Stock Pick: Elon Musk Political Involvement May 'Accelerate' EV Maker Beyond Autos
General Motors exits the autonomous taxi Business; Microsoft (MSFT.US) is expected to record a $0.8 billion impairment charge.
After General Motors (GM.US) announced its withdrawal from the Cruise self-driving taxi program, Microsoft (MSFT.US) is expected to record an impairment expense of $0.8 billion in the second quarter of 2025, which will have a negative impact of about 9 cents per share on profits. Microsoft announced a minority Private Equity investment in Cruise under General Motors in January 2021, as part of a $2 billion investment round, of which General Motors holds a majority stake.
Microsoft to Incur $800M Charge Tied to Cruise Robotaxi Program
Express News | Microsoft - Expect to Record Impairment Charge Due to GM's Intent to No Longer Fund Cruise's Robotaxi Development Work
GM Shares Are Dipping Wednesday: What's Going On?
Optimism on the Rise Among Auto Dealers -- Market Talk
Express News | GM Shares Reverse Course, Last Down 1.5%
Reported Earlier: 'Honda to Cut Funding to Self-Driving Taxi Partnership With GM' - Bloomberg
Express News | Honda Will End Capital Tie-up With Cruise, in Which It Has Invested $852 Mln - Nikkei
U.S. stock market movement | General Motors fell 1.9%, announcing its exit from the autonomous taxi market.
On December 11, GLONGBRAND reported that General Motors (GM.US) dropped 1.9%, closing at $51.74. According to reports, General Motors announced on Tuesday that it will no longer provide funding for the development of its autonomous driving department, Cruise's robotaxi, and will instead integrate this department into its broader technology team. General Motors stated that the reasons for this decision include the increasingly competitive autonomous taxi market, capital allocation priorities, and the significant time and resources required for business development. The company added that it plans to "readjust its Global Strategy for autonomous driving," focusing on advanced.
Express News | GM : JP Morgan Cuts Target Price to $64 From $70
4 Stocks to Watch on Wednesday: M, ADBE and More
Morgan Stanley Maintains General Motors(GM.US) With Hold Rating, Maintains Target Price $54
HSBC Downgrades General Motors(GM.US) to Hold Rating, Raises Target Price to $58