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Cruise will likely end its service after GM pulls its funding
General Motors CEO Mary Barra has announced that GM will shut down its autonomous vehicle unit, Cruise, “given the considerable time and resources that would be needed to scale the business along with an increasingly competitive robotaxi market”. Barra added that a new unit would focus on personal vehicles and systems that can drive by…
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As GM pulls funding, the Cruise service will probably be shut down
General Motors (GM) will acquire a majority stake in Cruise Automation, an autonomous vehicle startup that has been shut down. GM will buy back its remaining shares from Cruise’s other shareholders for $1 billion. GM’s CEO Mary Barra said the move allows it to focus on developing fully driverless vehicles, calling it “an opportunity to…