General Motors pulls plug on Cruise self-driving taxi effort

General Motors has decided to discontinue its development of a fleet of driverless taxis, also known as robotaxis, due to financial losses and increasing competition from Google's Waymo unit and Uber. The company will instead focus on developing driver assistance features for its vehicles. GM's Cruise business, which was responsible for developing the robotaxis, will be folded into its group working on driver assistance technology. This decision marks a significant shift in GM's priorities, as the company had previously invested over $10 billion in Cruise's development since 2016. Elon Musk, CEO of Tesla, has expressed optimism about the potential of robotaxis, but investors remain skeptical about their viability.