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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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Investor opinions & comments:

GM is adapting to the changing landscape in the automotive industry, which is a smart move
— from AmandaWright at 12-21-2024 18:12
I'm curious to see how this decision will impact GM's stock price in the short term
— from MoneyMonique at 12-21-2024 05:44
I'm worried that this decision could hinder GM's future growth prospects
— from InvestorImogen at 12-21-2024 02:36
Wow, this is surprising news. I wonder what other areas of innovation GM will focus on now?
— from WealthyMary at 12-21-2024 01:26
I think GM is making a mistake by not fully investing in the autonomous vehicle market
— from LillianBell at 12-20-2024 20:50
I'm skeptical that GM's other areas of innovation will be as successful as the Cruise unit
— from RachelLee at 12-20-2024 19:41
I think this move shows that GM wants to focus on more profitable ventures
— from BudgetBobby at 12-20-2024 15:13
I'm excited to see what GM will come up with in terms of other areas of innovation
— from NatalieBaker at 12-20-2024 13:17
I'm not sure if this decision will have a positive impact on GM's stock price
— from SadieColeman at 12-20-2024 04:04
GM's success over the past year shows that they know how to make profitable decisions
— from EthanRoberts at 12-19-2024 21:55
GM shareholders must be pleased with the impressive return they've received
— from InvestorImogen at 12-19-2024 15:58
GM's decision seems wise. It's important for companies to adapt and invest in areas with higher growth potential
— from RiskyRandy at 12-19-2024 13:46
I'm disappointed to hear that GM is pulling back from such an exciting and innovative technology
— from WyattRiley at 12-19-2024 07:34
GM's decision may create new opportunities for other companies in the autonomous vehicle space
— from WealthyWill at 12-18-2024 20:19
I'm optimistic about GM's future and the potential for growth in other areas
— from InvestorIrene at 12-18-2024 17:32
It's risky to pull back from a promising technology like self-driving vehicles
— from PennyPaul at 12-18-2024 15:02
GM's decision could lead to more innovative and exciting projects
— from TylerGonzalez at 12-18-2024 09:15
I trust GM's judgement in reallocating its resources. They are likely pursuing better opportunities
— from AnthonyBennett at 12-18-2024 04:28
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