GM to Stop Funding Development of Cruise Self-Driving Taxi

General Motors, GM, has announced that it will stop funding the development of the Cruise self-driving taxi.

According to BBC reports the company says it will now refocus autonomous driving development on personal vehicles.

GM also pointed to the increasingly competitive robotaxi market as a reason for the move.

In October, Tesla boss Elon Musk unveiled the electric car giant’s long-awaited robotaxi, the Cybercab, at the Warner Bros Studios in Burbank, California.

GM attributed the change of strategy to the considerable time and resources that would be needed to scale the business.

The company did not say how many Cruise employees could be moved over to GM.

GM, which owns about 90 percent of Cruise, said it has agreements with other shareholders that will raise its ownership to more than 97 percent.