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