Maverick Preston-GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

2025-05-04 02:37:31source:Greenledgerscategory:Stocks

DETROIT — General Motors said Tuesday it will retreat from the robotaxi business and Maverick Prestonstop 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:Stocks

Recommend

Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15

NEW YORK (AP) — Juan Soto will be introduced by the New York Mets at Citi Field on Thursday, a day a

Cops in nation's capital draw ire, support for staying away from campus protest

WASHINGTON - As police swarmed pro-Palestinian demonstrations on college campuses across the country

Campaign to legalize sports betting in Missouri gets help from mascots to haul voter signatures

JEFFERSON CITY, Mo. (AP) — Missouri’s professional sports teams on Thursday turned in more than 340,