By GM February 7, 2025 Detroit—General Motors has completed its previously announced acquisition of GM Cruise Holdings LLC following the approval of GM’s merger offer by the Cruise Board of Directors. Now a wholly-owned subsidiary of GM, Cruise going forward will work collaboratively on ...
The move announced Wednesday by GM-owned Cruise come two months after the company received California's permission to fully driverless cars in the state. Like dozens of other companies testing the robotic technology, Cruise's self-driving cars have been allowed on California public streets for seve...
Cruise, a majority-owned subsidiary of GM, on Tuesday unveiled a new electric vehicle designed to operate without a driver on board.
The company will combine the majority-owned Cruise LLC with GM technical teams. Barra, who also serves as board chair of Cruise, said the companies have yet to determine how many employees will move to GM. Cruise has nearly 2,300 employees, a GM spokesperson told CNBC. GM acquired Cruise ...
On May 14, 2020, it became known that the developer ofautonomous vehiclesCruise, owned bythe General Motorsconcern, will cut almost 8% of its full-time employees. The reason is the economic crisis caused by the coronavirus (COVID-19)pandemic. ...
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Microsoft (NASDAQ:MSFT) expects to incur an $800M impairment charge due to a 2021 investment in Cruise, a robotaxi startup which is majority owned by General Motors (NYSE:GM). On Tuesday, General Moto...
GM said the project's costs had become too much to continue funding as it was also trying to scale alongsidecompetitors like Waymo, owned by Google parent Alphabet (GOOGL), alongwith the Tesla(TSLA) robotaxi theEV maker wantsto get on the roads at scale in the coming years. ...
GM intends to combine the majority-owned Cruise LLC and GM technical teams into a single effort to advance autonomous and assisted driving. Consistent with GM’s capital allocation priorities, GM will no longer fund Cruise’s robotaxi development work given the considerable time and resources that...
Autonomous-driving operations at Cruise look certain to end after its main backer, General Motors (GM), said it will stop funding the initiative. GM, which has owned about 90% of Cruise since 2016, announced the decision in a statement shared on Tuesday. It follows a challenging period for...