Vancouver, British Columbia--(Newsfile Corp. - December 11, 2024) - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a local chain agricultural technology company, announces that the Company will be relying on, and has satisfied all of the conditions to rely on, CSA Coordinated Blanket Order 51-931 for exemption from the requirements to send proxy-related materials, including the proxy and voting information forms and the Company's management information circular (the "Circular", and c ...

General Motors Co (NYSE:GM) stock is down 1.3% to trade at $52.07 at last check, amid news that the company stopped funding the development of its Cruise robotaxi. Though the automaker had already spent $10 billion on the self-driving unit, it is now planning to focus on advanced driver assistance systems and autonomous systems for personal vehicles.GM has been pulling back from a Nov. 25, two-year high of $61.24, but a familiar floor at the $50 level looks ready to contain any additional losses. The securi ...

General Motors said Tuesday it will no longer fund the development of a commercial robotaxi business and will instead absorb its self-driving car subsidiary Cruise and combine it with the automaker’s own efforts to develop driver assistance features — and eventually fully autonomous personal vehicles.The pivot is a remarkable step for the automaker, which acquired the self-driving startup Cruise in March 2016 for $1 billion. Since then, GM has spent more than $10 billion on the company in a bid to commercia ...

Cruise founder Kyle Vogt criticized GM's decision to pull robotaxi funding.GM's decision to divest from Cruise comes as other tech giants forge ahead with robotaxi plans.Investors appeared to welcome the news as GM looks to cut costs.General Motors' decision to pivot away from robotaxis has one big critic: Cruise founder Kyle Vogt.Advertisement Vogt, who resigned from the company in 2023, posted on the social media platform X (formerly Twitter) following GM's announcement that it would stop funding Cruise ...

General Motors just pulled the plug on Cruise's robotaxi dreams.The self-driving venture has been in doubt since a pedestrian was seriously injured last year.GM's decision is a warning for the auto industry that time and money may not be enough with robotaxis.General Motors' decision to pull the plug on Cruise is a warning for the rest of the auto industry that building a robotaxi business is hard, really expensive — and fraught with risk.Advertisement The automaker invested more than $10 billion in Cruise ...

Automaker General Motors Company (NYSE: GM ) just announced that it is stopping the funding of Cruise, its autonomous vehicle unit, in a surprise move that raised some eye-brows with investors. According to General Motors, the automaker is no longer interested inI look for high-risk, high-reward situations, mainly in the technology markets. I am an early buyer of Bitcoin and my portfolio mainly focused on companies with asymmetric long-term upside. My top holdings include: Bitcoin, Tesla, Google, Amazon and ...

KEY TAKEAWAYSGeneral Motors said it was abandoning its Cruise driverless ride-hailing service due to its high costs and the scale needed in an increasingly competitive market.The automaker said the Cruise team will be combined with its other technical teams and the company will instead focus on developing advanced driver assistance systems.Scrapping the Cruise robotaxi project will save it more than $1 billion a year, GM said. General Motors (GM) said it was abandoning its Cruise driverless ride-hailing ser ...

GM is halting Cruise robotaxi development, merging it with its own technical team.The decision follows safety issues, regulatory challenges, and intense competition in the field.Cruise competes with Alphabet's Waymo, Zoox, and potentially with Tesla's Cybercabs.General Motors is giving up on Cruise's robotaxi focus after eight years of pouring money into the commercial business.Advertisement GM said on Tuesday that it will no longer fund Cruise's robotaxi development work because of increasing competition ...

The news came by Slack message. Cruise CEO Marc Whitten, who took the top post in June, posted a message Tuesday afternoon in the company’s announcements channel along with a link to a press release entitled “GM to refocus autonomous driving development on personal vehicles.” GM, which acquired the self-driving car startup in 2016, would no longer fund the company, ending a mission that hundreds of Cruise engineers had worked on for years.  Minutes later, during an all-hands meeting, Cruise employees learn ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup New ...