GM Says Cruise Indefinitely Delayed Cruise Origin And Recognized $631M In Non-Cash Charges Before Noncontrolling Interest In Three Months Ended June 30
Portfolio Pulse from Benzinga Newsdesk
General Motors (GM) announced an indefinite delay for its Cruise Origin project and recognized $631 million in non-cash charges before noncontrolling interest for the three months ended June 30.
July 23, 2024 | 7:38 pm
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General Motors (GM) has indefinitely delayed its Cruise Origin project and reported $631 million in non-cash charges for Q2. This could negatively impact investor sentiment and short-term stock performance.
The indefinite delay of the Cruise Origin project suggests potential setbacks in GM's autonomous vehicle strategy, which could concern investors. Additionally, the recognition of $631 million in non-cash charges for Q2 may negatively impact the company's financial outlook in the short term.
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