General Motors pulls plug on $10B robotaxi project, shifts focus to trucks
Robotaxis are taxis that do not require a driver's participation—heralding a revolution in transportation and the future of the automotive industry. But are they really? General Motors, which has invested $10 billion in developing this technology, has a different perspective.
On December 10, General Motors officially announced the termination of the Cruise project, which had recently been presented as the corporation's absolute priority. It turns out that the business based on autonomous taxis is causing the company financial losses. Consequently, the management decided to halt further funding.
Since the project's inception in 2016, the American manufacturer has invested nearly $10 billion in the endeavor. Now, the Cruise program will be marginalized, becoming part of a group focusing on driver assistance systems.
The decision is yet another indication of cost-cutting at GM, following the corporation's reduction in the development of electric vehicles and the sale of shares in one of its battery factories. The company intends to concentrate primarily on the most profitable market segments, particularly gasoline-powered pickups and trucks, reports "Reuters".
