Transportation
GM Keeps Cruise Robotaxi Unit Going With $850 Million in Cash
- Automaker is reviewing funding options, strategy for Cruise
- Self-driving business recently resumed testing after setbacks
A Cruise vehicle in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
General Motors Co. is giving its Cruise self-driving vehicle unit $850 million to keep the business going into the first quarter of next year while the automaker figures out what to do next with the unit’s strategy and funding.
Cruise was beginning to generate revenue last year and had ambitions to get to $1 billion in fares charged in 2025. That plan was upended last October after one of its robotaxis struck and dragged a woman, leading California to suspend the company’s license and GM to halt all operations.