GM Axes Half of Cruise as It Ditches Robotaxi Business
The robotaxi business is largely being abandoned in favor of autonomous technology for personal vehicles—specifically, GM’s Super Cruise system, which it has installed in many of its newer models. GM’s shift to Super Cruise is two-fold: First and foremost,
Cruise to slash workforce by nearly 50% after GM cuts funding to robotaxi operations
In June 2024, GM injected another $850 million into Cruise, bringing its total spend on the company since acquiring most of Cruise’s shares in 2016 close to $10 billion. In September, Elshenawy, president and chief technologist of Cruise, threw a huge party for Cruise staffers that some read to be a sign that the company was moving forward.
GM just over a year ago said Cruise would be a $50 billion per-year business. The company never made money and its parent ...
Cruise held an all-hands meeting today, in which it announced that GM had acquired full control of the company. A ...
GM said on Tuesday it had completed the full acquisition of its Cruise business to focus on developing autonomous technology ...
Cruise is laying off about 50% of its workforce, affecting nearly 1,000 employees, as GM shifts focus to other automotive ...
As announced, the US automotive group General Motors (GM) has acquired all outstanding shares of the robotaxi company Cruise ...
General Motors on Tuesday completed its acquistion of the Cruise autonomous vehicle unit, laying off half the workforce. The ...
General Motors Co. is cutting almost half of the workforce in the Cruise driverless car unit, according to an internal memo ...
GM completes its acquisition of Cruise, which means a brutal 50% reduction in workforce. Those remaining will work on ...
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