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The Cruise AV is a Chevy Bolt-based autonomous vehicle; the first generation (G1) were modified by Cruise in San Francisco while the subsequent second and third generations (G2 and G3) are manufactured at the Orion Township assembly plant in Michigan. The Cruise AVs feature "drive control algorithms and artificial intelligence created by Cruise."
The $19 billion valuation comprises over one-third of GM's market value of roughly $54 billion. GM stock is up 25% this year and up over 1% in morning trading Tuesday.
The automaker even announced plans for Cruise to generate $1 billion in annual revenue by 2025, but it scaled back spending on the company after one of its autonomous Chevrolet Bolts dragged a San ...
Cruise, General Motors’ self-driving vehicle subsidiary, has recalled all 950 of its autonomous vehicles for a software update. Late last month, Cruise paused all its public testing operations ...
DETROIT (AP) — General Motors said Tuesday it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit. Instead the Detroit automaker will focus on development of partially automated driver-assist systems for personal vehicles like its Super Cruise, which allows drivers to take their hands off ...
GM's stock closed up 9.8% at $53.73, the biggest increase since March 24, 2020 and the highest price this year. ... while losses narrowed to $435 million at the troubled Cruise autonomous vehicle ...
Cruise Automation, the autonomous vehicle startup acquired by General Motors (NYSE: GM) in 2016, has secured an equity investment of $1.15 billion that values the company at $19 billion. The group ...
Tech: GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit; Science: Monarch butterflies to be listed as a threatened species in US; Health: More beans and less red meat: Nutrition experts weigh in on US dietary guidelines