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☆ Buick, GM’s low-key pseudo-luxury brand, is suddenly hot
▼ + stars: | 2024-04-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet spot in GM’s North American brand strategy. Last year, Buick sales rose more than 60% in the US compared to 2022. The Buick Envista introduced last summer is, essentially, a modified version of the well-received Chevrolet Trax, GM’s cheapest crossover SUV. The 1938 Buick Y Job is generally considered the auto industry's first "concept car." Last year, Avenir models, which get some fancier interior materials, more features, and distinctive paint colors, made up almost a third of Buick sales, the highest levels yet, Aldred said.

Persons: Louis Chevrolet, “, it’s, ”, Ivan Drury, Jason Barlow, Envista, Bob Boniface ,, Duncan Aldred, Drury, It’s, Buick, that’s, Aldred Organizations: CNN, Buick, GM, Riviera, Chevrolet Trax, GMC, Chevy, Cox Automotive, Cadillac, General Motors, Liverpool Locations: GM’s, China, the, America, Europe

☆ These are the concert residencies that helped define the Las Vegas strip
▼ + stars: | 2024-03-24 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +8 min

CNN —Las Vegas is a city brightly lit by it’s rich history, extravagant hotels, luxurious dining experiences, perpetually rolling dice and, of course, one-of-a-kind musical residencies. Here’s a look at some of the most influential musical residencies that have helped define Las Vegas as the entertainment capital of the world. Usher previously performed his “Usher: The Las Vegas Residency” through 2021 at the Colosseum at Caesars Palace. Known as Mr. Las Vegas, the performer has become such a local icon that streets are named after him. Marco Piraccini/Mondadori/Getty ImagesThere was a time where Las Vegas residencies were considered something best suited for artists of yesteryear.

Persons: Mariah Carey, Adele, Garth Brooks, Lionel Richie, Usher Usher, Aaron J, Thornton, WireImage, Jennifer Lopez, Kim Kardashian, Jessica Alba, Zendaya, Usher, Wayne Newton Wayne Newton, Ethan Miller, Wayne Newton, Newton, Wayne, Elvis Presley Elvis Presley, Elvis Presley, –, Long, Celine Dion Celine Dion, Tomasz Rossa, Celine Dion, Love, Dion, Diana Ross Diana Ross, Matt Sayles, Invision, Diana Ross, Ross, Ross ’, “, Elton John Elton John, Mick Hutson, Redferns, Elton John, he’s, Rocketman, Britney Spears Britney Spears, Marco Piraccini, Britney Spears, Spears, Katy Perry, Lady Gaga, Bono, Adam Clayton, Bram van den Berg, Kevin Mazur Organizations: CNN, Sin, Vegas, Las, Colosseum, Billboard, Tropicana, Getty, Flamingo, Intercontinental, Westgate Las, “, Venetian, Caesars, Yamaha, Planet Hollywood, Forbes Locations: Sin City, Vegas, Nevada, Las Vegas

☆ Tesla Autopilot and similar automated driving systems get ‘poor’ rating from prominent safety group
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —The Insurance Institute for Highway Safety, which rates cars and SUVs for safety, examined so-called advanced driver assistance systems such as Tesla Autopilot and found them wanting. Of the 14 systems tested by the agency, 11 earned a “poor” rating including Tesla’s Autopilot and so-called Full Self Driving systems. Insurance Institute test drivers also looked at what would happen if the driver became incapacitated with the automated driving system in use. Of the systems tested, only GM’s Super Cruise handled that sort of situation the proper way, according to the Institute. The Insurance Institute will continue to monitor software updates and improvements and will periodically retest the systems, Harkey said.

Persons: ’, David Harkey, Harkey, “, ” Harkey, ” Nissan, Ford, BlueCruise, ” Ford Organizations: CNN, The Insurance Institute for Highway, Ford, Nissan, ”, Insurance, ” Insurance, Traffic, Administration, The Insurance Institute, Institute, The, . Insurance, Cruise, Tesla, GM, Insurance Institute for Highway, Insurance Institute

☆ No, electric vehicle sales aren’t dropping. Here’s what’s really going on
▼ + stars: | 2024-02-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

(BNEF’s figures include plug-in hybrids, but the large majority are fully electric vehicles.) High pricesMost electric vehicles currently on sale in America are on the more expensive side of the automotive market. Power, referring to the Kia EV9 and Cadillac Lyriq electric vehicles. Besides raw numbers, the EV chargers that are currently available tend to rate low with consumers in terms of reliability, according to J.D.. Power surveys. Public chargers are more important to people who can afford neither an expensive vehicle nor a house with private parking.

Persons: CNN — Tesla, ”, Tyson Jominy, Kia, Corey Cantor, Jim Farley, Farley, Jominy, Tesla, Carlos Tavares, Valdez Streaty, “, “ We’re Organizations: CNN, Ford, Cox Automotive, Bloomberg New Energy Finance, Kia, J.D, ” Ford, National Renewable Energy Laboratory, US Department of Energy, DOE, EV, BMW, GM, Honda, Hyundai, Benz, Stellantis, Dodge, Leasing Locations: United States, America, California, Canada, New York

☆ Ford says it has a ‘Skunk Works’ team trying to make lower-cost EVs
▼ + stars: | 2024-02-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Ford says it has a top-secret, high-powered team working to design its future electric vehicles. Electric vehicle sales increased by 40% in the fourth quarter of 2023 compared to the same period in 2022, according to Cox Automotive. In a study released late last year by S&P Global Mobility, almost half of people surveyed globally thought EV prices were too high. “We developed a super-talented ‘Skunk Works’ team to create a low-cost EV platform,” Farley said. By dubbing its own operation as a “Skunk Works” team, Ford is seeking to put the scale of the matter front-and-center.

Persons: CNN — Ford, ”, Yanina Mills, Ford, Jim Farley, ” Farley, Tesla Farley, Tesla, Farley, Alan Clarke, EVs Farley Organizations: CNN, Tesla, Audi, Mercedes, Ford, Cox Automotive, P Global Mobility, United Auto Workers, Skunk, Lockheed, Skunk Works, Reuters, Works, Hyundai, Ford Pro, EV, EVS Locations: China, Asia, Europe

Even when compared with other CEOs, who routinely get paid roughly 200 times more than their typical employees, Elon Musk’s pay package was eye-opening. Critics have argued for years that CEO pay packages are exorbitant. Under Musk’s pay plan, he received a chunk of stock options each time Tesla’s market value rose by $50 billion. General Motors, for example, considers executive salaries at 3M, Boeing, Ford, IBM and other huge companies, and uses complex formulas to determine CEO compensation. Corporate law experts say any new compensation package for Musk will likely be challenged in court unless Tesla's board either resigns en masse or follows a meticulous process to protect shareholders by passing a substantially smaller package.

Persons: Tesla, Kathaleen St, Jude McCormick, Musk, Bernard Arnault, Critics, Blackstone’s Steven Schwarzman, “, ‘, ’ ” McCormick, Musk’s, shouldn’t, Mary Barra, Jim, Mark Zuckerberg, Tim Cook, they’re, ”, Charles Elson, ” Elson, Elson Organizations: Elon, Musk, Forbes, General Motors, 3M, Boeing, Ford, IBM, Big Tech, University of Delaware, Lawyers Locations: Delaware, —, Barra, U.S

☆ GM said the strike cost it $1.1 billion. But it could post a record profit this year
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

The automaker said it expects 2024 adjusted earnings of between $9.8 billion to $11.2 billion, which could top the record $11 billion it earned on that basis in 2022. The company reported adjusted net income of $1.6 billion in the fourth quarter, or $1.24 a share. That’s down 46% from a year earlier, partly due to the $1.1 billion cost of the strike, most of which came in the fourth quarter. Revenue of $43 billion in the quarter, down less than 1% from a year earlier, also beat forecasts. Full year adjusted earnings slipped only 5% to $10.5 billion.

Persons: “, ”, Mary Barra Organizations: New, New York CNN, General, Refinitiv, “, GM Locations: New York, Refinitiv ., China, United States

It was down only 14% from the previous weekend and brings its running domestic total to $42.3 million. Political Cartoons View All 253 ImagesThis was the first moviegoing weekend following Oscar nominations. Searchlight’s “Poor Things,” nominated for 11 Oscars, including best picture, best director and best actress for Emma Stone, got a 43% boost from last weekend with an estimated $3 million. And A24’s “The Zone of Interest,” which had five nominations, including best picture and best director for Jonathan Glazer, expanded to 317 screens, where it earned $1.1 million. Universal had leading Oscar nominee “Oppenheimer” in 1,262 theaters, where it earned an additional million dollars this weekend.

Persons: holdovers, “, Jason Statham actioner, It's, “ Oppenheimer, ” “ Barbie, ”, Jeffrey Wright, Emma Stone, Jonathan Glazer, Alexander Payne's “, Glazer's, Jonathan Organizations: American, Amazon MGM Studios, Warner Bros, Universal Locations: North America

☆ GM’s self-driving car division is under investigation by DOJ and SEC after pedestrian dragging incident
▼ + stars: | 2024-01-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

In meetings with regulators after the October 2 incident, Cruise officials attempted to show a full video of the impact, shot from the car. Cruise commissioned the law firm of Quinn Emanuel Urquhart & Sullivan to investigate the incident and Cruise’s response to it. Immediately after the incident, Cruise employees were not, themselves, aware that the woman had been dragged, according to the report. Actually, the pedestrian was struck by a human-driven Nissan car first and that impact propelled her into the path of the Cruise car. The report attributed its failures in communication to a “myopic focus” in clearing Cruise of fault in the initial impact.

Persons: CNN — Cruise, Cruise, Quinn Emanuel Urquhart, Sullivan, ” Cruise, Mary Barra, veihicle, “ Organizations: CNN, Motors, Department of Justice, Securities and Exchange Commission, Cruise, GM, Nissan Locations: ”, California, United States

☆ Chevy Blazer Troubles Add to GM’s EV Growing Pains
▼ + stars: | 2024-01-14 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

The Chevrolet Blazer’s turbulent rollout is the latest setback as GM seeks to establish itself as an EV player. Photo: jim lo scalzo/ShutterstockAs one of the nation’s first owners of General Motors ’ new electric Chevrolet Blazer, James Hattin was loving the SUV—before the problems began. On a trip from the mountains back to his home in Burbank, Calif., he and his wife heard weird clicking noises coming from the dashboard. A short time later, the cruise control went out. A few days after that, in his driveway, the car’s screens went blank and the car wouldn’t start.

Persons: jim lo, James Hattin Organizations: General Motors, Chevrolet Locations: Burbank , Calif

Winter storms and cinema closures in North America didn’t dampen the opening weekend for “ Mean Girls. Not accounting for inflation, that’s more than the $24.4 million the first movie made in its opening weekend. This iteration of “Mean Girls” stars Angourie Rice, Auli’i Cravalho and Reneé Rap, who played Regina on stage. Political Cartoons View All 253 ImagesAmazon and MGM’s “The Beekeeper" debuted in second place with an estimated $16.8 million from 3,303 theaters. The Walt Disney Co. sent its 2020 Pixar film “Soul” to movie theaters this weekend as well, where it made $429,000 from 1350 locations in North America.

Persons: Tiny Fey, Martin Luther King Jr, Jason Statham, Jay, Clarence, “ Barbie, ”, hadn’t, Regina George, Angourie Rice, Auli’i, Regina, Fey, Samantha Jayne, Arturo Perez Jr, bode, “ Wonka, Sydney Sweeney, Glen Powell, LaKeith Stanfield, Omar Sy, RJ Cyler, David Oyelowo, Alfre Woodard, Teyana Taylor, Jeymes Samuel, “ Luca Organizations: Paramount, Golden Globes, “, Rotten, Miramax, Sony, Universal, Walt Disney Co, Pixar, Disney Locations: North America, British

☆ GM’s 655-horsepower hybrid Corvette is a magnificent missed opportunity
▼ + stars: | 2024-01-14 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Vernon, New Jersey CNN —General Motors is very clear that its engineers didn’t create the Chevrolet Corvette E-Ray, the first hybrid Corvette, to save gas. Instead they wanted to make an all-wheel-drive Corvette, and the best way to do that was simply to attach a powerful electric motor to the front wheels. Unlike in a Toyota Prius, or almost any other hybrid, the E-Ray’s electric motor almost never drives the car on its own. For that, GM offers the lighter and more powerful Corvette Z06, with its high-revving 670-horsepower V8 and no electric motor. Instead, GM has focused on fully electric technology and, before too long, there will be a fully electric Corvette.

Persons: Ray, it’s, I’ve Organizations: Vernon , New Jersey CNN —, Chevrolet, GM, Toyota Prius, Lamborghini Locations: Vernon , New Jersey, New York , New Jersey

Song’s quietly romantic film, starring Greta Lee and Teo Yoo as childhood friends who reconnect later in life, earned nominations for her direction, script and for both actors. “May December,” about an actress preparing to play a Mary Kay Letourneau-like role got nods for Natalie Portman, Charles Melton and screenwriter Samy Burch. MGM’s “American Fiction,” featuring Jeffrey Wright as a frustrated novelist, got recognition for Wright, Erika Alexander and Sterling K. Brown. Josh Welsh, the president of Film Independent, said the spirit awards look for films and shows that, “demonstrate the uniqueness of vision, original, provocative subject matter, economy of means and diversity, both on screen and off.”The Spirit Awards also recognize television series. Billie Eilish was also nominated for “Swarm.”Saturday Night Live’s Aidy Bryant is hosting the show, which will take place on Feb. 25 in Santa Monica, California.

Persons: Song’s, Greta Lee, Teo Yoo, “, Mary Kay Letourneau, Natalie Portman, Charles Melton, Samy Burch, MGM’s, Jeffrey Wright, Wright, Erika Alexander, Sterling K, Brown . Jefferson, ”, ” Kelly Reichardt’s, Robert Altman, Michelle Williams, André Benjamin, Hong Chau, Judd Hirsch, Amanda Plummer, Alexander Payne's “, Paul Giamatti, Da’Vine Joy Randolph, Dominic Sessa, Payne, Giamatti, Andrew Haigh, Ira Sachs, William Oldroyd, Eileen, Haynes, Song, “ Oppenheimer, Maestro ”, Lee, Yoo, Portman, Jessica Chastain, Monica, Judy Reyes, Andrew Scott, Franz Rogowski, Teyana Taylor, Noah Galvin, Anne Hathaway, Glenn Howerton, Marin Ireland, Catalina Saavedra, Ben Whishaw, Brown, Alexander, Marshawn Lynch, Sandra Hüller, Justine Triet’s “, Jonathan Glazer’s, Iceland’s, Wata, Michelle Yeoh, Ke Huy Quan, Josh Welsh, Steven Yeun, Ali Wong, Bella Ramsey, Murray Bartlett, Nick Offerman, Billie Eilish, Live’s Aidy Bryant Organizations: NFL, ”, Film, “, YouTube Locations: Hong, Melton, Randolph, Poland, Denmark, Santa Monica , California

☆ GM’s Cruise Ordered by California Regulator to Testify About October Incident
▼ + stars: | 2023-12-04 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

A California regulator said Cruise omitted critical information about the safety of its vehicles regarding an October incident involving a pedestrian. Photo: John G. Mabanglo/Zuma PressGeneral Motors ’ Cruise has been ordered to testify before the California Public Utilities Commission over allegedly misleading comments it gave to regulators about an incident in October in which a pedestrian was hit. The CPUC said the self-driving car firm omitted critical information about the safety of its vehicles regarding the incident. A woman was hit by a human-driven car and thrown into the path of a driverless Cruise vehicle, which collided with the pedestrian and dragged the person about 20 feet. Cruise could face a fine of up to $1.5 million, the latest blow to the company’s operations in recent months after the company lost its driverless permits in California and CEO Kyle Vogt resigned.

Persons: John G, Mabanglo, Motors ’, CPUC, Kyle Vogt Organizations: Zuma Press, Motors, California Public Utilities Commission Locations: California

☆ GM believes many of its EVs will qualify for tax credits in 2024
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: 1 min

[1/2] The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect. "Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond," the automaker said after the Biden administration issued new guidance. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, General Motors, Biden, David Shepardson Organizations: General Motors, REUTERS, Rights, General, Thomson Locations: Detroit , Michigan, U.S

☆ GM Plans $10 Billion Stock Buyback in Bid to Assuage Investors
▼ + stars: | 2023-11-29 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

General Motors was the last of the Detroit automakers to reach a new tentative labor deal with the United Auto Workers. Photo: Rebecca Cook/ReutersGeneral Motors plans to sharply increase cash return to shareholders, as Chief Executive Mary Barra seeks to reassure investors about the health of GM’s core car-making business after setbacks in fledgling pursuits such as electric and driverless vehicles. The company also said Wednesday it will work to offset higher labor expenses from its new contract with the United Auto Workers and unionized employees in Canada. The contracts will add a total of $9.3 billion in costs over about four years, including $1.5 billion next year, higher than analysts had estimated.

Persons: Motors, Rebecca Cook, Mary Barra Organizations: Detroit automakers, United Auto Workers, Reuters General Motors Locations: Canada

☆ GM Plans $10 Billion Share Repurchase in Bid to Assuage Investors
▼ + stars: | 2023-11-29 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

GM will fund its stock buyback in part by freeing up capital previously earmarked for development of EVs and autonomous vehicles. Photo: john g mabanglo/EPA/ShutterstockGeneral Motors plans to sharply increase cash return to shareholders, as Chief Executive Mary Barra seeks to reassure investors about the health of GM’s core car-making business after setbacks in fledgling pursuits like electric and driverless vehicles. GM on Wednesday outlined plans for an accelerated $10 billion share repurchase for next year, its largest stock buyback in recent memory. The company will fund it in part by freeing up capital previously earmarked for development of EVs and autonomous vehicles, which have been the main pillars of Barra’s growth strategy.

Persons: Mary Barra Organizations: Shutterstock, Motors, GM

☆ 'Sugar rush’ of a big buyback won’t erase questions about GM’s growth strategy: Mark Fields
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Sugar rush’ of a big buyback won’t erase questions about GM’s growth strategy: Mark FieldsMark Fields, Fmr. Ford CEO, joins 'Fast Money' to talk the EV market, Cybertruck delivery, GM earnings and more.

Persons: Mark, Mark Fields Organizations: Ford

☆ GM cuts spending on Cruise self-driving cars
▼ + stars: | 2023-11-29 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —General Motors announced Wednesday that it’s cutting spending at its self-driving car unit, Cruise. GM had previously announced it intends to cut back Cruise’s operations once the company restarts testing and ride hailing services. The Cruise vehicle then pulled forward, dragging the person along pavement for 20 feet. Following the suspension, Cruise announced it was pausing its public operations throughout the US and, last week, Cruise chief executive Kyle Vogt resigned. The reduction in spending relates to the broad reigning in of production and operations for Cruise.

Persons: Mary Barra, Cruise, Kyle Vogt, Dan Kan, Barra Organizations: CNN — General Motors, GM, California Department of Motor Vehicles, Cruise, Reuters Locations: United States, San Francisco

☆ GM lavishes shareholders with cash weeks after saying it couldn’t afford workers’ demands
▼ + stars: | 2023-11-29 | by ( Allison Morrow | Chris Isidore | ) edition.cnn.com time to read: +3 min

GM’s stock jumped nearly 10% on the news. The announcement comes just weeks after GM executives argued the company couldn’t afford to give the union the wage and benefit gains it wanted. The UAW strike dragged on for six weeks and shut down production in key manufacturing plants. New contracts for GM’s unionized workers in the United States and Canada will cost the company an additional $9.3 billion through 2028. Even with Wednesday’s surge in GM’s share price, the stock is trading for less than it did at the start of the strike.

Persons: Mark Reuss, “, ”, Mary Barra, Buybacks, Sen, Elizabeth Warren, Warren, ” Warren, — CNN’s Matt Egan Organizations: New, New York CNN —, Motors, GM, United Auto Workers, nonunion automakers, UAW Locations: New York, salve, United States, Canada

REUTERS/David Swanson/File photo Acquire Licensing RightsNov 24 (Reuters) - Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. Clean energy experts interviewed by Reuters say the mounting setbacks will make the United States' ambitious targets to decarbonize by mid-century even harder to reach. Solar energy facilities account for two thirds of those delays due in part to U.S. import restrictions. "These are the normal ups and downs of clean energy development and deployment," Reicher said.

Persons: David Swanson, Joe Biden’s, Biden, John Hensley, Wood Mackenzie, “, Ali Zaidi, Prakash Sharma, that's, Vic Abate, it's, Robert Walther, Walther, Dan Reicher, Reicher, Nichola Groom, Richard Valdmanis, Alistair Bell Organizations: REUTERS, Soaring, Ford, Reuters, American Clean Power Association, United Nations, White, Dominion Energy Inc, TEN, GE, Biden, Treasury Department, Trump, Stanford University, Thomson Locations: Palm Springs , California, U.S, Washington, Nations, Egypt, Dubai, United States, Paris, Virginia, Gulf of Mexico

☆ Solid state batteries promise to radically change EVs. But they may not be the only answer
▼ + stars: | 2023-11-23 | by ( Manav Tanneeru | Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Car companies including Stellantis, Hyundai and Volkswagen have also teamed up with firms working on solid state batteries. But solid state technology has its own challenges, and it’s not the only way automakers could achieve lighter, cheaper and faster charging electric vehicles. In a solid state battery, the electrolyte is, well, a solid. That solid electrolyte is one reason that solid state batteries might be safer than lithium-ion batteries. Ultimately, there probably will never be one battery technology used in all EVs, GM spokesperson Phil Lienert said.

Persons: it’s, William Kephart, Kephart, ”, Siyu Huang, Quantumscape, That’s what’s, Phil Lienert Organizations: CNN, Toyota, Stellantis, Hyundai, Volkswagen, P3, OneD, Sciences, GM

☆ GM’s Cruise Draws Plans to Resume a Downsized Robotaxi Service
▼ + stars: | 2023-11-22 | by ( Mike Colias | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

A Cruise self-driving vehicle. Photo: Poppy Lynch for The Wall Street JournalGeneral Motors ’ Cruise driverless-car unit plans to eventually reintroduce its robotaxi service following safety mishaps, but will narrow the focus to one city and shelve plans for the Origin, a GM-built driverless taxi. Cruise’s new co-president, Mo Elshenawy, outlined in an employee email Wednesday the plan to scale back future operations to one market, a change from an earlier strategy to deploy service in more than a dozen cities, according to people familiar with the matter.

Persons: Poppy Lynch, Mo Elshenawy Organizations: The Wall Street, GM

☆ GM’s Driverless Taxis Need to Slow Down
▼ + stars: | 2023-11-21 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

A Cruise autonomous taxi in San Francisco, California, earlier this year. Photo: David Paul Morris/Bloomberg NewsStep on the accelerator with driverless vehicles and you scare off regulators and the public, but hit the brakes and you lose financial backers. It won’t be an easy balance for Cruise to strike as it looks for a route out of today’s crisis. The autonomous-taxi venture 80%-owned by General Motors has lost both its co-founders since Sunday, including Chief Executive Officer Kyle Vogt . The resignations, which capped a tumultuous few weeks since the suspension of Cruise’s autonomous-driving permit by the California Department of Motor Vehicles, might make it easier to convince regulators that the business can make a fresh start.

Persons: David Paul Morris, Cruise, Kyle Vogt Organizations: Bloomberg, General Motors, California Department of Motor Vehicles Locations: San Francisco , California

Shortly after midnight on Aug. 24, a driverless shuttle operated by General Motors ’ Cruise stopped in the middle of a street in downtown Austin, Texas. Then it veered off the road, jumped the curb and hit the side of a building, according to video footage and police reports. By the time officers showed up, Cruise employees had covered the vehicle with a tarp and were trying to dislodge it—a task complicated by the lack of driver’s seat or steering wheel.

Persons: General Motors ’ Cruise Organizations: General Motors, Cruise Locations: Austin , Texas

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