GM: Cruise subsidiary abandons 'robotaxi' project
(CercleFinance.com) - GM announced last night that its Cruise autonomous vehicle subsidiary had decided to abandon the development of 'robotaxi', citing the length and scale of the financial resources required for such a project and a market that has become much more competitive with the arrival of Tesla.
General Motors explains that it intends to refocus its strategy in this field on its 'Super Cruise' hands-free driving assistance technology, which already equips 20 models in its range, representing the equivalent of more than 10 million miles (around 16 million km) driven every month.
With this in mind, GM explains that it intends to bring Cruise, in which it holds a 90% stake, closer to its own technical teams in order to advance its autonomous driving and roadside assistance programs.
The American automaker states that it intends to take full control of Cruise, adding that this restructuring will enable it to generate over $1bn in annual savings, from FY 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
General Motors explains that it intends to refocus its strategy in this field on its 'Super Cruise' hands-free driving assistance technology, which already equips 20 models in its range, representing the equivalent of more than 10 million miles (around 16 million km) driven every month.
With this in mind, GM explains that it intends to bring Cruise, in which it holds a 90% stake, closer to its own technical teams in order to advance its autonomous driving and roadside assistance programs.
The American automaker states that it intends to take full control of Cruise, adding that this restructuring will enable it to generate over $1bn in annual savings, from FY 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.