GM WASTES MONEY ON SELF DRIVING GAMBIT, WOKE CEO MARY BARRA (TIME TO RETIRE MARY!) IS BIG LOSER OF STOCKHOLDER MONEY

GM Completes Cruise Acquisition, Cuts 1,000 Jobs

GM Completes Cruise Acquisition, Cuts 1,000 Jobs
General Motors finalized the acquisition of its Cruise subsidiary and laid off half of the self-driving vehicle firm’s workforce, or about 1,000 jobs. The move comes about two months after GM revealed it would stop funding Cruise’s robotaxi development, citing the resources required to scale a competitive robotaxi market.

Reassigned to Super Cruise Development

The Detroit Free Press reported that the job cuts impacted various administrative positions, though a GM spokesperson did not provide further details. The company plans to retain approximately 80% of the technical and engineering teams and reassign the remaining employees to work on the Super Cruise-assisted driving system and related technologies.

Enabling Hands-Free Driving

The Super Cruise platform, available in 20 vehicle models, enables hands-free driving on 750,000 miles of North American roads, according to GM. The automaker said it hopes to expand the technology to urban surface streets as it develops personal autonomous vehicles.

Never Made Money

GM has invested $10 billion in Cruise since 2016 and recently estimated it would reach $50 billion in annual revenue by 2030. However, the aftermath of a 2023 accident involving a Cruise vehicle and a pedestrian led to slower growth. The Free Press reported that the startup never turned a profit and ultimately cost GM nearly $2 billion per year to operate.