GM may have sidelined Cruise, but it’s still a contender in the robotaxi competition.

Written by Emily J. Thompson, Senior Investment Analyst

Source: Businessinsider

Updated: 1 hour ago

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Source: Businessinsider

GM's Future Plans: General Motors (GM) plans to roll out eyes-off driving technology on highways by 2028, starting with the Cadillac Escalade IQ, while shifting focus from its robotaxi business to personal autonomous vehicles.
Robotaxi Business Shutdown: GM is shutting down its dedicated robotaxi division, Cruise, in 2024 due to regulatory hurdles and safety incidents, but remains committed to developing self-driving technology for personal vehicles.
Investment in Autonomous Driving: The company has invested over $10 billion in its Cruise robotaxi business, which it acquired in 2016, and is now reallocating resources to enhance its personal autonomous driving capabilities.
Hiring for Autonomous Development: GM has rehired around 100 former Cruise employees to bolster its self-driving technology efforts, indicating a strategic pivot towards meeting future demands for autonomous vehicle services.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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