GM's Cruise robotaxi unit drives deeper into the red

FILE PHOTO: The Cruise Origin autonomous vehicle, a Honda and General Motors self-driving car partnership, is seen during its unveiling in San Francisco, California, U.S. January 21, 2020. REUTERS/Stephen Lam

DETROIT (Reuters) - General Motors Co has lost nearly $5 billion since 2018 trying to build a robotaxi business in San Francisco, and now as the automaker's Cruise unit starts charging for rides, the losses are accelerating.

GM said on Tuesday it lost $500 million on Cruise during the second quarter - more than $5 million a day - as it began charging for rides in a limited area of San Francisco.