FILE PHOTO: A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File photo
(Reuters) -General Motors said on Tuesday it will stop funding and exit robotaxi development at its majority-owned Cruise business, a blow to the automaker that had made the advanced technology unit a top priority.
GM said it would no longer fund work on the robotaxis "given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market." The automaker has invested more than $10 billion in Cruise.
