Jun 12, 2024 - Business

GM plugs another $850 million into Cruise robotaxi unit

Dan Primack,
Joann Muller

Cruise robotaxi — Photo: Andrej Sokolow/picture alliance via Getty Images

General Motors on Tuesday said it will invest $850 million into Cruise, the robotaxi and self-driving business it bought in 2016.

Why it matters: GM has decided it's pot committed, despite having lost over $8 billion on a business that forced to stop on-street operations after a robotaxi in its fleet hit a pedestrian last fall in San Francisco.

The automaker's goal is to prove safety, including via the cautious reintroduction of its robotaxis in three markets, so that longer-term capital might hop a ride.
The bottom line: There's a lot of uncertainty about how big the robotaxi business will be, but GM is too far into Cruise to abandon the technology.

Add Axios on Google

GM plugs another $850 million into Cruise robotaxi unit

What to read next