GM ends Cruise robotaxi development, refocuses on personal autonomous vehicles

General Motors Co

GM will no longer fund Cruise's robotaxi work due to time/resources needed and competitive market.
GM owns ~90% of Cruise; will boost ownership to >97% and acquire remaining shares.
Restructuring expected to cut spending by >$1B annually, targeted completion in H1 2025.
Combines Cruise and GM technical teams to advance autonomous driving; Super Cruise on 20+ models.

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