General Motors Ends Funding for Cruise Robotaxi

General Motors (GM) has announced it will cease funding its Cruise robotaxi division and instead focus on developing autonomous technology for personal vehicles. This decision comes in the wake of significant challenges, including financial losses, regulatory hurdles, and a controversial incident involving a Cruise robotaxi that dragged a pedestrian in San Francisco. GM's CEO Mary Barra cited the substantial capital required to maintain and grow a robotaxi business as a key reason for the strategic shift, moving away from its earlier ambitions of generating $50 billion in revenue from robotaxi services by 2030. The company will merge Cruise's operations with its existing autonomous vehicle team, aiming to improve safety features for consumer vehicles rather than pursuing a fleet of driverless taxis. The competitive landscape has also intensified, with major players like Tesla, Waymo, and Amazon making strides in the robotaxi market. GM's decision reflects a broader trend of traditional automakers reassessing their roles in the rapidly evolving autonomous vehicle sector.