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But the ongoing troubles at Cruise pushed GM's share price down more than 3% to $26.65 on Thursday, its lowest closing price since August 2020.
Cruise CEO Kyle Vogt and co-founder and Chief Product Officer Dan Kan resigned, and Barra said in November that GM will be making "substantially lower spending" on Cruise in 2024 than it did in 2023.
GM acquired Cruise in 2016 for $1.1 billion. In 2021, Cruise played a starring role in GM's guidance to double revenue by 2030. Cruise was projected to increase its sales to $50 billion by the end ...
Cruise LLC. Cruise LLC is an American self-driving car company headquartered in San Francisco, California. Founded in 2013 by Kyle Vogt and Dan Kan, [4][5][6] Cruise tests and develops autonomous car technology. The company is a largely autonomous subsidiary of General Motors. [7]
Before Cruise suspended operations, GM CEO Mary Barra had said Cruise and its autonomous vehicle technology could generate $50 billion in revenue by 2030, making the robotaxi business a big piece ...
The Cruise AV is a Bolt EV-based autonomous vehicle developed and tested by Cruise Automation, whose majority owner is General Motors; GM acquired Cruise in March 2016. [74] Pre-production versions of the Bolt EV were built at Orion Assembly in March 2016 and sent to Cruise, which modified the cars by adding sensors in San Francisco. [75]
(Reuters) -General Motors' self-driving car unit Cruise is preparing to resume testing its robotaxis on public roads with safety drivers in the coming weeks, with Houston and Dallas as potential ...
OnStar Corporation. OnStar Corporation is a subsidiary of General Motors [1] that provides subscription-based communications, in-vehicle security, emergency services, turn-by-turn navigation, and remote diagnostics systems throughout the United States, Canada, Chile, [2] China, Mexico, Europe, Brazil, Colombia, Argentina and the Gulf ...