GM Unveils Plans For Autonomous Driving Unit Cruise Relaunch After Hiatus, Expects $1.7B In Expenses

Anan Ashraf

April 25, 2024

Detroit-based automaker General Motors (NYSE:GM) on Tuesday detailed its plans for the relaunch of its autonomous driving unit Cruise, months after it paused operations owing to the involvement of one of its robotaxis in an accident in San Francisco.

What Happened: “We’re very excited that they’re back on the roads in Phoenix,” GM CEO Mary Barra said during the company’s first-quarter earnings call on Tuesday. Cruise is currently actively working to build regulator and customer trust, she noted.

The company has strengthened the safety of its self-driving system and intends to demonstrate that the model works in one city before expanding to the next. Cruise accrued expenses of $400 million in the first quarter as compared to the $800 million in the quarter before. The company expects the unit’s full-year expenses to be around $1.7 billion.

The company is presently exploring a few options to fund Cruise, including outside investment, Barra said.

Why It Matters: Cruise suspended both autonomous and manual AV operations in the United States in October 2023. Earlier this month, the company resumed manual driving in the city of Phoenix to gather road information.

These vehicles, Cruise then said, will be driven by humans without autonomous systems engaged. The company is looking to gradually scale up to driverless operations yet again.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read More: Ford CFO Says EV Price Cuts Bringing Down Revenue Faster Than Company Can Cut Costs; ‘If The Pricing Stabilizes…’

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