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Robotaxi Face-Off: It's Waymo Vs. Tesla After General Motors' Exit
TSLATesla(TSLA) ZACKS·2024-12-11 16:25

U.S. legacy automaker General Motors (GM) has announced its exit from the robotaxi business, marking the end of its Cruise division’s ambitious plans to compete in the self-driving ride-hailing market. After investing over $10 billion into Cruise since its acquisition in 2016, GM cited several reasons for pulling the plug, including intense competition, high capital demands, and extended timelines to profitability.The automaker will now shift its focus toward integrating autonomous driving technology into p ...