GM even announced plans for Cruise to generate $1 billion in annual revenue by 2025, but it scaled back spending on the company after one of its autonomous Chevrolet Bolts dragged a San Francisco pedestrian who was hit by another vehicle in 2023.
Tuesday, December 10, 2024 9:51PMGeneral Motors said Tuesday it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit.
The company said it will combine Cruise's technical team with its own to work on advanced systems to assist drivers. Over the years GM invested billions in the subsidiary and eventually bought 90% of the company from investors.
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