GM's Cruise Abandons Pedal-less Origin Autonomous Vehicle, Pivots To Next-Generation Chevrolet Bolt Instead (Updated)
Portfolio Pulse from Anan Ashraf
GM's Cruise is abandoning its plans for the pedal-less Origin autonomous vehicle and will focus on the next-generation Chevrolet Bolt for autonomous driving. This shift is due to regulatory uncertainties and cost optimization. Cruise reported a significant operating loss and restructuring costs for the first half of 2024.
July 23, 2024 | 11:28 am
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GM's Cruise is shifting focus from the Origin autonomous vehicle to the next-generation Chevrolet Bolt due to regulatory uncertainties and cost concerns. This move aims to simplify scaling and optimize resources.
The shift from the Origin to the Chevrolet Bolt addresses regulatory uncertainties and cost concerns, which could stabilize investor sentiment. However, the significant operating loss and restructuring costs reported for H1 2024 may offset any immediate positive impact.
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