Phaninc Exchange:GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

2025-05-06 14:21:19source:Henri Lumièrecategory:Invest

DETROIT — General Motors said Tuesday it will retreat from the robotaxi business and Phaninc Exchangestop funding its money-losing Cruise autonomous vehicle unit.

Instead, the Detroit automaker will focus on development of partially automated driver-assist systems for personal vehicles like its Super Cruise, which allows drivers to take their hands off the steering wheel.

GM said it would get out of robotaxis "given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market."

The company said it will combine Cruise's technical team with its own to work on advanced systems to assist drivers.

Sponsor Message

More:Invest

Recommend

Who are the most valuable sports franchises? Forbes releases new list of top 50 teams

Early Thursday morning, "Forbes" released their annual list of the 50 most valuable sports franchise

'Every hurricane is different': Why experts are still estimating Idalia's impact

Hurricanes can be deceiving and capricious. You hear ominous warnings. You see a buzzsaw-like storm

Teen shot dead by police after allegedly killing police dog, firing gun at officers

JONESBORO, Ga. (AP) — Police in Georgia on Saturday shot and killed a 17-year-old boy they said kill