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Microsoft will take $800 million charge on Cruise investment

Hosted on MSN · 31m

Microsoft will take $800 million charge on Cruise investment as GM exits robotaxi business

Microsoft will take an $800 million charge on its investment in the Cruise robotaxi business after General Motors announced it would no longer fund the initiative as part of a shift in its autonomous driving strategy.

Wall Street Journal · 1h

Microsoft to Incur $800 Million Charge Tied to Cruise Robotaxi Program

Microsoft said it will record an $800 million impairment charge tied to its minority investment in General Motor’s now-scrapped robotaxi program Cruise.

Seattle Times · 2h

GM halts funding for Cruise robotaxi program

General Motors’ move Tuesday to halt funding for its Cruise robotaxi program makes way for Silicon Valley rivals to take a firmer hold of the potentially multibillion-dollar business. But experts say bowing out is the right choice for the embattled Cruise.

GM Pulls Plug On Its Multibillion-Dollar Robotaxi Bet

GM Pulls The Plug On Its Multibillion-Dollar Robotaxi Bet

The automaker is folding Cruise, its San Francisco-based subsidiary, into its in-house efforts to develop autonomous driving for personal vehicles.

General Motors Says It’s Pulling Cruise Out of the Robotaxi Business

Automotive giant General Motors announced Tuesday that it would be pulling funding from its robotaxi firm Cruise, though it gestured at future plans to continue developing self-driving cars.

BBC on MSN · 21h

General Motors pulls plug on robotaxi project

General Motors has announced that it will stop funding the development of the Cruise self-driving taxi. The company says it will now "refocus autonomous driving development on personal vehicles". GM also pointed to the increasingly competitive robotaxi market as a reason for the move.

Hosted on MSN4m

GM scrapped its $50 billion robotaxi dream, ceding game to Tesla and Waymo

GM just walked away from its robotaxi dream, bailing on its Cruise business as the price tag became too much to stomach.

3h

Cruise employees ‘blindsided’ by GM’s plan to end robotaxi program

The news came by Slack message. Cruise CEO Marc Whitten, who took the top post in June, posted a message Tuesday afternoon in ...

8h

Cruise-ing To Nowhere: GM Halts Cruise’s Robotaxi Development

A Cruise driverless robotaxi operating in San Francisco, California on ... [+] July 24, 2023. Anadolu Agency via General ...

Government Technology1m

GM Puts the Brakes on Cruise, Turns to Autonomous Tech

After a year of trying to refocus and relaunch the robotaxi program following an October 2023 pedestrian crash, the automaker ...

1hon MSN

Honda cuts funding to robotaxi venture with Cruise and GM in Japan

Honda Motor Co. will stop funding a joint venture with General Motors and Cruise to launch a robotaxi service in Japan, now ...

20h

GM scraps Cruise's robotaxi service

GM announced Tuesday that it would no longer be using Cruise LLC funding for developing a robotaxi service, citing increased ...

1h

GM moves away from the robotaxi business axing Cruise

General Motors is calling it quits on its goal of operating a robotaxi service. On Tuesday, GM announced it would combine its ...

5h

GM's Cruise robotaxi exit a result of 'serious problems' from scaling too fast and continued high costs

General Motors pulled the plug on its Cruise robotaxi business on Tuesday night, a move marking a dramatic step back in its ...

Hosted on MSN1h

GM shutters Cruise robotaxi project

General Motors is shutting down its Cruise robotaxi project, citing intense competition for self-driving cars and the steep ...

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