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The GeneralMotors cuts funding to its cruise program
General Motors CEO Mary Barra has said that self-driving car startup Cruise will be “reorganised and refocus” as part of the company’s effort to improve its autonomous driving systems. Barra added that the company will partner with Cruise on improving driver-assist systems. Barra said the move will help her make decisions on Cruise’s future, adding…
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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…
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GM shares increased after the company reported a record earnings and raised its stake in the company.
General Motors CEO Mary Barra said the carmaker will open a facility in the US for recycling electric vehicle batteries. GM is also buying a $650 million equity stake in Lithium Americas, which will help it access the raw material needed to build batteries to power 1 million electric vehicles a year in the first…