General Motors said Tuesday that it will no longer fund robotaxi development work by Cruise citing “capital allocation priorities,” and “the…
said Tuesday that it will no longer fund robotaxi development work by Cruise citing"capital allocation priorities," and"the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market."
The Detroit automaker plans to"realign its autonomous driving strategy" to focus on advanced driver assistance systems and autonomous systems for use in personal vehicles instead, and it will combine the majority-owned Cruise LLC and GM technical teams.GM owns about 90% of Cruise and has agreements with other shareholders that will raise its ownership to more than 97%, the company said in a statement. GM plans to pursue"acquisition of the remaining shares.
This summer, the Detroit automaker said it would indefinitely delay production of the Origin autonomous vehicle as its Cruise self-driving unit attemptedAt that point, Cruise began to focus on using the next-generation Chevrolet Bolt for development of autonomous vehicles since then.after collisions, a clash with regulators, and suspension of its permits that allowed it to operate a robotaxi ride hailing service in California.
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