General Motors says it will fold the Cruise team into its passenger-car division, ending its pursuit of self-driving taxi technology. The automaker already owned about 90 per cent of Cruise and acquired most of the remaining shares before announcing the change. (The Logic)
Skip to content
General Motors says it will fold the Cruise team into its passenger-car division, ending its pursuit of self-driving taxi technology. The automaker already owned about 90 per cent of Cruise and acquired most of the remaining shares before announcing the change. (The Logic)
Talking point: The decision marks a retreat from CEO Mary Barra’s bold US$50 billion revenue target for the division, even as rivals like Waymo and Tesla ramp up their autonomous ambitions. Alphabet-owned Waymo said last week it is expanding its robotaxi service to Miami, while Tesla announced its Cybercab in October. GM software executive Dave Richardson said the company is “fully committed” to autonomy for GM customers, but that Cruise’s robotaxis will require too much spending to be competitive. The automaker already laid off 1,000 software engineers in August, and plans to cut expenses by more than US$1 billion annually by restructuring Cruise.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Solomon says new laws will address Canada’s AI trust deficit
Briefing
Feds should have rules for weighing military needs and economic benefits in defence buys, ombud advises
Peblik executive director sentenced to jail for crypto marketing fraud
PSP posts 6.5% return, boosts Canadian assets
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
