Cruise Faces Investigation After Collision With Emergency Vehicle, To Withdraw Half Its Active Fleet
Portfolio Pulse from Anan Ashraf
California’s Department of Motor Vehicles (DMV) has instructed General Motors Co’s (NYSE:GM) Cruise to withdraw 50% of its operating vehicles off roads after one of its autonomous cars crashed with an emergency vehicle. The DMV is investigating 'recent concerning incidents' involving Cruise vehicles in San Francisco. Alphabet Inc‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) autonomous driving tech unit Waymo and Cruise received a driverless deployment permit for 24×7 fared operation in San Francisco from the California Public Utilities Commission on Aug. 10.
August 21, 2023 | 2:46 am
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General Motors' autonomous vehicle unit Cruise is instructed to withdraw 50% of its operating vehicles following a crash. This could potentially impact GM's plans for autonomous vehicle deployment.
The crash and subsequent investigation could potentially delay GM's plans for autonomous vehicle deployment, which could negatively impact the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet's autonomous driving tech unit Waymo, along with Cruise, received a driverless deployment permit for 24×7 fared operation in San Francisco. The incident with Cruise could potentially lead to increased scrutiny for Waymo.
While Waymo is not directly involved in the incident, increased scrutiny and potential regulatory changes in the autonomous vehicle sector could impact Waymo's operations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Alphabet's autonomous driving tech unit Waymo, along with Cruise, received a driverless deployment permit for 24×7 fared operation in San Francisco. The incident with Cruise could potentially lead to increased scrutiny for Waymo.
While Waymo is not directly involved in the incident, increased scrutiny and potential regulatory changes in the autonomous vehicle sector could impact Waymo's operations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50