GM's Cruise to focus on cost cuts as it ramps up robotaxis

FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS/Rebecca Cook/File Photo

SAN FRANCISCO (Reuters) - General Motors Co's robotaxi unit Cruise is focusing on cutting costs this year, a top executive said on Monday, as mounting losses in the autonomous vehicle companies have sparked investor concerns and forced some to shut shop.

"We'll continue to look at hardware, software - both in terms of component costs as well as the quantity of components that are on the vehicle - and continue to drive cost out as we move forward," Cruise's chief operating officer Gil West said at a technology conference.