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Reading: GM to cut expenditures on self-driving unit Cruise, report says
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EV-a2z > News > GM to cut expenditures on self-driving unit Cruise, report says
News

GM to cut expenditures on self-driving unit Cruise, report says

EV-a2zm
Last updated: 2023/11/30 at 7:27 AM
EV-a2zm Published November 30, 2023 3 Min Read
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Detroit May 10, 2021 General Motors Building, G.M. Headquarters, Renaissance Center, May 10, 2021, Downtown Detroit
Detroit May 10, 2021 General Motors Building, G.M. Headquarters, Renaissance Center, May 10, 2021, Downtown Detroit
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American legacy automaker General Motors will substantially reduce its expenditures on its self-driving business unit Cruise this week, Financial Times reports.

Contents
Report highlightsRecent incidentImpact

The decision is apparently crucial for the company amid the ongoing challenges involving its Cruise operations.

⚠️ GM TO CUT SPENDING ON CRUISE AFTER ACCIDENT – FT

General Motors will scale back spending on its self-driving unit Cruise, after a pedestrian accident last month, Financial Times reported on Tuesday. pic.twitter.com/X37xvFnxV6

— PiQ (@PiQSuite) November 28, 2023

Report highlights

According to the report, GM will officially disclose the specific amount it plans to deduct from Cruise-related spending on Wednesday.

It is one of the major consequences of the unfortunate pedestrian accident on October 2, 2023. Since then, GM has gradually started to scale back its ambitious plans with Cruise’s robotaxis, including production and operation locations.

GM spokesman Jim Cain confirmed the news, according to Detroit Free Press.

“We haven’t made any announcements about Cruise spending (although Cruise is reducing expenses because their fleet is idle). But you will recall on our last earnings call, we said spending would rise as Cruise expanded. That expansion is now paused.”

GM spokesman Jim Cain

GM to cut spending on Cruise after accident https://t.co/LvJwfMz5nH pic.twitter.com/6e3Iav6tBu

— Jean Beniga (@Beniga_) November 28, 2023

Recent incident

As EV-a2z previously reported, a woman got hit by a human-driven car while she was crossing a street in San Francisco.

In an even more unfortunate turn of events, the victim landed in the way of an upcoming Cruise robotaxi. The self-driving car dragged the victim approximately 20 feet away from the scene.

That said, it is unsurprising that many people expressed increasing safety concerns regarding the Cruise robotaxis’ operations.

Impact

After the unfortunate accident on October 2, the California Department of Motor Vehicles suspended Cruise’s permits for public operations on October 26.

On November 8, Cruise recalled a total of 950 robotaxis in its fleet. Then, Chief Executive Kyle Vogt and Chief Product Officer Daniel Kan resigned, leaving a $1.9 billion loss so far this year.

GM's Cruise plans small relaunch of driverless robotaxis#TeslaNews

Cruise is planning to re-launch in one unspecified city before expanding to others, just weeks after California barred its self-driving vehicles from public roads following an accident last month. pic.twitter.com/Mf5h7cgInu

— Joe Hansen (@joehansenxx) November 23, 2023

Nonetheless, Reuters reported GM’s announcement last week about the new deployment strategy for Cruise robotaxis. The company will apparently relaunch in one unidentified city before expanding operations to other locations. It will also prioritize Bolt-based Cruise self-driving cars in the near future. 

All that said, it would be really interesting to see how GM would revive and improve Cruise as major players race to achieve full autonomy.

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TAGGED: Autonomous Driving, Autonomous Vehicle, Cruise, Cruise Robotaxi, Electric Vehicle, EV, GM, Robotaxi
EV-a2zm November 30, 2023 November 30, 2023
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