00:00It's Benzinga, bringing Wall Street to Main Street.
00:02General Motors has discontinued its Cruze Robotaxi program, adding nearly a decade in
00:06development and $10 billion in investment, citing the high cost of scaling and increased
00:11competition in the sector.
00:13The company will refocus its autonomous strategy on enhancing advanced driver assistance systems
00:18and fully autonomous technology for personal vehicles, building on its Super Cruze feature.
00:24GM plans to consolidate Cruze's team with its in-house efforts and buyout remaining
00:28Cruze investors.
00:30The move is expected to save over $1 billion annually once completed in mid-2025.
00:36GM shares rose 3% in aftermarket trading following the announcement.
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