GM Exits Robotaxi Market

After spending more than $10 billion on its robotaxi unit, General Motors
is abandoning its Cruise driverless ride-hailing service. From a report: The Detroit automaker on Tuesday said it will no longer fund its Cruise division's robotaxi development and will instead fold the unit into its broader tech team. 'Cruise was well on its way to a robotaxi business -- but when you look at the fact you're deploying a fleet, there's a whole operations piece of doing that,' GM CEO Mary Barra said on a call Tuesday.

Barra said GM would instead focus on the development of autonomous systems for use in personal vehicles. GM cited the increasingly competitive robotaxi market, capital allocation priorities and the considerable time and resources necessary to grow the business as reasons for its decision.

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