GM Cruise

GM CruiseGeneral Motors' Cruise saw its internal share price cut by more than half from a quarter ago as the fallout from an October accident continues to weigh on the self-driving car company.Cruise employees were told the share price had been estimated by a third party at USD 11.80, according to an email viewed by Reuters. That's down from a prior estimate of USD 24.27 just one quarter ago."We cannot ignore that this estimate is significantly lower than we've seen…

Representative image.General Motors' self-driving car unit Cruise is preparing to resume testing its robotaxis on public roads with safety drivers in the coming weeks, with Houston and Dallas as potential locations, Bloomberg News reported on Thursday.Cruise suspended its U.S. operations in October after an incident in San Francisco, where one of its robotaxis dragged a pedestrian struck by another car."We have not set a timeline for deployment. Our goal is to relaunch…

However, GM's Barra asserted on Tuesday that "we had already demonstrated and validated externally that Cruise technology is already safer than a human driver."General Motors Chief Executive Mary Barra said on Thursday that the automaker was looking at the best path to unlock value at its self-driving unit Cruise.Shares of GM rose about 2%.Cruise is an "incredibly valuable asset", Barra said at an event hosted by Wolfe Research.The Detroit automaker will focus on…

Steve Kenner General Motors' Cruise said Monday it named a longtime auto and tech industry employee as head of safety for the robotaxi unit.Cruise named Steve Kenner as its chief safety officer, who will oversee Cruise's safety management systems and operations.Kenner began has career at GM in 1978 and previously worked as global director of automotive safety at Ford, among other jobs. He was most recently vice president of safety at self-driving trucking company Kodiak…

Waymo Robotaxi A seasoned San Francisco cab driver might have avoided the intersection of Jackson Street and Grant Avenue, in the heart of the city's Chinatown on the first day of Chinese New Year.An autonomous Waymo robotaxi, by contrast, drove toward the cross streets on Saturday evening, when crowds were blocking all sides and revelers were lighting fireworks, according to two witnesses. Minutes later, some in the crowd attacked the car and set it on fire."Most normal…

General Motors' Cruise said Monday it named a longtime auto and tech industry employee as head of safety for the robotaxi unit.Cruise named Steve Kenner as its chief safety officer, who will oversee Cruise's safety management systems and operations.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIT DelhiIITD Certificate Programme in Data Science…

Autonomous tests with a safety driver rose to 5.7 million miles from 5.1 million, DMV data from Dec. 1, 2022 to Nov. 30, 2023 showed.Completely driverless vehicles traveled nearly 3.3 million miles in California last year, over five times the previous year's total, even as concerns rose in the wake of a Cruise robotaxi accident, state data on vehicle testing released on Friday showed.General Motors' Cruise and Alphabet's Waymo accounted for the bulk of the miles - 63%…

GM said in November it would cut costs at Cruise, which lost more than USD 700 million in the third quarter and more than USD 8 billion since 2016.General Motors' Cruise robotaxi unit offered on Friday to pay USD 75,000 to resolve an investigation by California regulators into its failure to disclose details of a pedestrian crash involving a self-driving car.In December, the California Public Utilities Commission ordered Cruise to appear at a Feb. 6 hearing, citing it…

GM's CrusieGeneral Motors' Cruise robotaxi unit dismissed nine key people amid an ongoing safety investigation, according to a memo seen by Reuters on Wednesday, which the company confirmed included Chief Operating Officer Gil West.The investigation relates to an Oct. 2 incident in which a woman was struck and dragged by a Cruise vehicle in San Francisco.The shakeup follows weeks of turmoil at the robotaxi unit, which had to pull all its vehicles from testing in the…

The industry faces new headwinds after California in October suspended the permit of General Motors' Cruise robotaxis to test on public roads.The U.S. Transportation Department needs to support the development of autonomous vehicles, a coalition of groups representing the industry warned on Thursday, saying the nascent industry risks losing out to competitors like China."The AV industry is at a critical juncture and in need of strong leadership from USDOT," the…