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General Motors Newsroom
General Motors (GM.US) exits the autonomous taxi market! Its subsidiary Cruise will merge with the technical team.
General Motors announced on Tuesday that it will no longer provide funding for the development of autonomous taxis (robotaxi) under its autonomous driving division, but will instead incorporate that division into its broader technology team.
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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.
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