General Motors' ‘robo taxi’ business hits the brakes

General Motors' ‘robo taxi’ business hits the brakes

By Ritesh B

The bold entry by General Motors into the American driverless cruise market has cost over $5 billion.

The company is facing losses upto $US5 million a day.

The major causes of the staggering costs is San Francisco's slow adoption of the Cruise project.

Another cause is the holding up of permissions for its autonomous Origin vehicle.

The most recent failure occurred as General Motors introduced express ride fees for their electric Chevrolet Bolt vehicles.

Additionally, stories of accidents using Cruise robotic taxis and short traffic jams brought on by Cruise-driven hatchbacks have tarnished its reputation.

Mary Barra, the CEO of General Motors, is nevertheless optimistic in Cruise's long-term possibilities as a possible $50 billion per year company.

She asserted that market growth for autonomous car products and services will enable General Motors to reach its investment goals by 2030.

General Motors is now attempting to obtain state supervisor permission in California.