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GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

December 18, 2024
General Motors Company (NYSE:GM) has announced its decision to pull back from the development of robotaxis and halt its funding for Cruise, its autonomous vehicle unit. The move comes as GM shareholders have experienced a 49% return over the past year. This decision highlights a shift in focus for the company as it redirects its resources towards other areas of innovation and growth. While the Cruise unit has shown promise in the self-driving technology space, GM believes that its current business model is not sustainable in the long run. Industry experts recommend considering the recent developments and seeking professional advice, such as that offered by Stocks Prognosis, to make informed decisions regarding the future movement of GM's stocks.
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In an exciting turn of events for investors, GENERAL MOTORS COMPANY has successfully achieved the price target forecast set by QuantWave, resulting in a substantial profit margin of 18.19%....


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