GM to stop funding Cruise due to competitive market
CEO Barra emphasizes focus on future technology
Cruise agreed to pay 500,000 fine for false report in crash investigation

Dec 10 Reuters General Motors said on Tuesday it will end robotaxi development at its majorityowned, moneylosing Cruise business, a blow to the ambitions of the largest U.S. automaker which had made the advanced technology unit a top priority.

The Detroitbased car company said it would no longer fund work on selfdriving robotaxis given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market.

The automaker has invested more than 10 billion in Cruise since 2016. Cruise will be folded into its group working on driver assistance technology.

The move comes on the heels of GM scaling back plans for electric vehicles, selling its stake in one of its joint venture battery plants and restructuring its China business, leaving the company more focused on its profitable business of making gasolinepowered pickup trucks and other large vehicles.

GM shares rose 3.2 in extended trading on Tuesday.

In 2023, GM CEO Mary Barra said the Cruise business could generate 50 billion in annual revenue by 2030 but on Tuesday said the business was expendable.

You39;ve got to really understand the cost of running a robotaxi fleet, which is fairly significant, and again, not our core business, Barra said on an analyst call.

GM expects the…