Written by Cláudio Afonso | LinkedIn | X
General Motors is making a significant investment of $850 million in its autonomous vehicle subsidiary, Cruise, to support operational costs after the recent suspension of its robotaxi service. This suspension followed an incident where one of Cruise’s driverless cars struck a pedestrian.
Paul Jacobson, GM’s Chief Financial Officer, announced this investment at Deutsche Bank’s Global Auto Industry Conference in New York City today. The funds are intended to aid Cruise as it gradually resumes testing its autonomous vehicles across multiple U.S. cities.
In addition to the financial support from GM, Cruise is actively seeking new external investors to strengthen its financial position and ensure the continuity of its autonomous vehicle operations.
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In April, the autonomous vehicle company said it resumed manual driving operations in Phoenix to gather essential road data and create updated maps, as part of its efforts to rebuild trust and improve safety.
Earlier this month, the California-headquartered brand said it expanded the validation of its technology to Dallas, Texas.
Dallas marks the second city after Phoenix that Cruise is gradually returning back, following a serious incident last year that caused the suspension of its operations.
By then, Cruise paused the operations of its fleet to focus on rebuilding trust with regulators and the communities as amid a “redesign” of its approach to safety.
Earlier this year, amid the return of manual driving in Phoenix, the company stated that it is “committed to safely deploying” its technology in “close collaboration with officials and communities at every step”.
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Written by Cláudio Afonso | LinkedIn | X
