GM Exits Robotaxi Business, Focuses on Driver-Assist Systems

General Motors announced Tuesday it will withdraw from the robotaxi business and cease funding its unprofitable Cruise autonomous vehicle unit. The Detroit automaker will shift its focus to developing partially automated driver-assist systems for personal vehicles like its Super Cruise, which allows drivers to remove their hands from the steering wheel.

GM cited the substantial time and resources required to scale the robotaxi business, along with an increasingly competitive market, as reasons for the exit. The company intends to integrate Cruise's technical team with its own to work on advanced driver-assistance systems. GM has invested billions in Cruise over the years and ultimately acquired 90% of the company from investors, all while incurring millions in losses. This move represents a significant shift from years of full support for Cruise, which resulted in a substantial financial burden for the automaker. GM invested $2.4 billion in Cruise only to face years of continuous losses with limited returns. Since GM acquired a controlling stake in Cruise for $581 million in 2016, the robotaxi service accumulated over $10 billion in operating losses while generating less than $500 million in revenue, according to GM shareholder reports filed with the Securities and Exchange Commission. The automaker had previously projected Cruise to achieve $1 billion in annual revenue by 2025, but scaled back spending after a Cruise autonomous Chevrolet Bolt struck and dragged a San Francisco pedestrian who was also hit by another vehicle in 2023. GM CEO Mary Barra told analysts on a conference call Tuesday that the new unit will concentrate on personal vehicles and developing systems capable of autonomous driving in specific situations

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