GM Ends Cruise Robotaxi Business

This is a news story, published by CNBC, that relates primarily to EV1 news.

EV1 news

For more EV1 news, you can click here:

more EV1 news

emerging technologies news

For more emerging technologies news, you can click here:

more emerging technologies news

CNBC news

For more news from CNBC, you can click here:

more news from CNBC

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best tech news, business news, entertainment news, and much more. If you like emerging technologies news, you might also like this article about

GM CEO Mary Barra

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest General Motors CEO news, robotaxi businesses news, emerging technologies news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

Cruise robotaxi business

CNBC

•

From growth to gone: GM’s Cruise robotaxi business is latest growth initiative to falter

Summary

Nutrition label

82% Informative

GM is ending its Cruise robotaxi business and folding Cruise 's operations and an undetermined number of its 2,300 employees into the automaker.

The driverless ride-hailing service was supposed to be the shining star of GM 's growth opportunities, leading to $50 billion in revenue by the end of this decade .

GM cited the increasingly competitive market, capital allocation priorities, and the considerable time and resources necessary to grow the business as reasons for its decision.

GM cancels Cruise robotaxi operations.

The automaker sees more promise in developing its Super Cruise hands-free driver assistance system.

GM had a similar path with EV tech, like the EV1 and the Volt plug-in hybrid-electric vehicle in the 2010s .

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language