GM Shuts Down Cruise Robotaxi Amidst Restructuring Efforts

General Motors has decided to cease funding its Cruise self-driving taxi project, shifting focus to autonomous technology for personal vehicles. The decision comes amid a competitive robotaxi market and follows a series of setbacks for Cruise, including a serious accident and regulatory issues. GM plans to increase its ownership in Cruise to over 97% and has not specified the impact on Cruise employees. This move reflects broader industry challenges, as other companies like Ford and Volkswagen have also abandoned similar projects.