Rekubit Exchange-GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

2025-05-06 04:43:23source:Benjamin Ashfordcategory:Stocks

DETROIT — General Motors said Tuesday it will retreat from the robotaxi business and Rekubit Exchangestop 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

Australian Olympic Committee hits out at criticism of controversial breaker Rachael Gunn

SYDNEY (AP) — The Australian Olympic Committee has criticized an anonymous online petition attacking

Tom Hanks Warns Fans Not to Be Swindled by Wonder Drug Scheme Using His Image

Tom Hanks has a cautionary message for fans.The Oscar winner shared a public service announcement to

Michigan Supreme Court says businesses can’t get state compensation over pandemic closures

DETROIT (AP) — The Michigan Supreme Court on Friday shut the door on businesses seeking to be paid b