-General Motors said on Tuesday it will stop funding and exit robotaxi development at its majority-owned Cruise business, a blow to the automaker that had made the advanced technology unit a top priority.
"This is the latest in the series of decisions that GM has announced which underscore our focus on having the right technology for the future of our company and the industry and reflects our commitment to execute with speed and efficiency," she said on Tuesday.Some of GM’s competitors have already stopped funding autonomous driving businesses, citing the costs and difficulties involved in developing such sophisticated technology. In October 2022, Ford Motor .
GM expects the restructuring will lower spending by more than $1 billion annually after the plan is completed by the end of June. GM in July said it would halt development of a planned robotaxi that would not have a steering wheel or other human controls.