General Motors' Cruise Aims To Resume Driverless Rides This Year: Report
Portfolio Pulse from Nabaparna Bhattacharya
General Motors' self-driving unit, Cruise, aims to resume fully autonomous rides by the end of the year and start charging fares by early 2025. The company halted operations in October due to a pedestrian collision and has since replaced top management and improved safety standards. Despite significant losses, GM shares are trading slightly higher.
July 26, 2024 | 5:14 pm
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General Motors' self-driving unit, Cruise, plans to resume fully autonomous rides by the end of the year and start charging fares by early 2025. The company halted operations in October due to a pedestrian collision and has since replaced top management and improved safety standards. Despite significant losses, GM shares are trading slightly higher.
The news indicates that Cruise is making significant progress in resuming its operations and improving safety standards, which is a positive development for GM. Despite the financial losses, the market has reacted positively, as evidenced by the slight increase in GM's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100