GM's Cruise To Restart Supervised Robotaxi Tests In Texas Months After Suspension
Portfolio Pulse from Anan Ashraf
General Motors Co's (NYSE:GM) self-driving car unit, Cruise, is set to resume robotaxi testing in Texas with safety drivers in the coming weeks, following a suspension due to a pedestrian accident. Despite a reported operating loss of $3.48 billion in 2023, GM remains committed to Cruise, planning to reduce spending but continue investing in self-driving technology.
February 23, 2024 | 9:02 am
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GM's Cruise division is restarting robotaxi tests in Texas, showing progress in self-driving technology despite recent operational challenges and financial losses.
The resumption of robotaxi testing by Cruise in Texas indicates a positive development for GM, showcasing its commitment to advancing self-driving technology. This move could potentially restore investor confidence and signal a strategic focus on future mobility solutions, despite the financial losses reported. The presence of safety drivers suggests a cautious approach to ensuring public safety and regulatory compliance, which may positively influence public and investor perception.
CONFIDENCE 85
IMPORTANCE 80
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