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☆ TuSimple Winds Down U.S. Operations as It Looks for Buyer
▼ + stars: | 2023-12-05 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

TuSimple has had to grapple with safety concerns as well as government scrutiny of its dealings with a Chinese trucking startup. Photo: Cassidy Araiza for The Wall Street JournalSelf-driving trucking company TuSimple Holdings said Monday that it is winding down its U.S. business, reducing its workforce to about 30 people as it looks for a buyer for its assets that remain in the country. The demise of TuSimple’s U.S. operations marks a precipitous fall for the one-time leader in autonomous long-haul trucking. The San Diego-based company in the past year has had to grapple with safety concerns as well as government scrutiny of its dealings with a Chinese trucking startup.

Persons: TuSimple, Cassidy Araiza Organizations: Wall Street, TuSimple Holdings, TuSimple’s Locations: TuSimple’s U.S, San Diego

☆ GM outlines $9.3 billion in increased costs from new labor deals
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

The $9.3 billion in additional costs through 2028 is for deals with the UAW as well as Canadian union Unifor, and translates to about $575 per vehicle over the life of the deals. GM's new guidance reduced expected net income attributable to stockholders for 2023 to a range of $9.1 billion to $9.7 billion, compared to the previous outlook of $9.3 billion to $10.7 billion. That includes an estimated $1.1 billion EBIT-adjusted impact from the UAW strike, which lasted just over six weeks, primarily from lost production. GM had approximately 1.37 billion shares of common stock outstanding prior to the buyback program, the company said. GM will still have another $1.4 billion of capacity remaining under its share repurchase authorization for additional stock buybacks.

Persons: Heather Somerville, Mary Barra, Barra, Cruise, Goldman Sachs, David Shepardson, Ben Klayman, Sharon Singleton, Mark Potter Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, GM, Cruise, Bank of America, Barclays, Citibank, Thomson Locations: San Francisco , California, U.S, California, Detroit

In an email to staff reviewed by Reuters, Cruise CEO Kyle Vogt also said the firm would make a new tender offer to allow employees to sell shares, just two days after cancelling an earlier offer. "As CEO, I take responsibility for the situation Cruise is in today. Vogt also noted that the company's approach to working with regulators, press and the public "must improve." Cancelling the program helped to cut costs for GM after it had to pause Cruise operations. Cruise has said it showed officials of the California DMV the complete video of the accident multiple times and provided a copy to officials.

Persons: Heather Somerville, Cruise, Kyle Vogt, Vogt, We've, Greg Bensinger, Hyunjoo Jin, David Shepardson, Cynthia Osterman, Tom Hogue Organizations: General Motors Corp, REUTERS, General Motors, Reuters, Cruise, Cruisers, GM, California Department of Motor Vehicles, California DMV, Thomson Locations: San Francisco, California, U.S, United States, Washington

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco, California, U.S., September 26, 2018. In an email to staff seen by Reuters, Cruise CEO Kyle Vogt said the company will re-evaluate the employee equity program in light of the suspension, which "pushed out our commercialization and revenue generation timelines." The regulator said Cruise had not initially disclosed all video footage of an Oct. 2 accident where Cruise's car dragged a pedestrian in San Francisco. The unlisted Cruise unit last year introduced the equity program under which current and former employees can sell their vested equity to GM and other investors every quarter. Asked about the Thursday's email from Vogt, a Cruise spokesperson said, "GM and Cruise are working together on what competitive compensation packages at Cruise will look like going forward."

Persons: Heather Somerville, Kyle Vogt, Cruise, Sam Abuelsamid, Vogt, Hyunjoo Jin, Greg Bensinger, David Shepardson, Jonathan Oatis, Matthew Lewis, Daniel Wallis Organizations: General Motors Corp, REUTERS, General Motors, GM, Reuters, Cruise, California Department of Motor Vehicles, United Auto Workers, UAW, Thomson Locations: San Francisco , California, U.S, California, San Francisco, California , Arizona, Washington

"This orderly pause is a further step to rebuild public trust while we undergo a full safety review," Cruise said in a blog post. In addition, Cruise will hire an outside safety expert to review the company's safety operations and culture, according to the blog post. Cruise previously said it had retained law firm Quinn Emanuel to examine Cruise's response to the accident. The teams under Glidden include communications and finance, according to the blog post. The U.S. National Highway Traffic Safety Administration (NHTSA) said last month it was investigating the safety of Cruise vehicles.

Persons: Heather Somerville, Cruise, Quinn Emanuel, Craig Glidden, Mary Barra, David Shepardson, Ben Klayman, Chris Reese Organizations: General Motors Corp, REUTERS, WASHINGTON, General Motors, Cruise, Detroit automaker, Glidden, GM, U.S . National, Traffic Safety Administration, California Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, DETROIT, San Francisco

But right now, the unit's operations are shut down as regulators investigate the safety of Cruise's self-driving vehicles. Cruise had $1.7 billion in cash as of Sept. 30, enough to last nine months at the current cash burn rate. As Cruise's troubles intensified, investors on Thursday sent GM shares down more than 3% to $26.65, its lowest closing price since August 2020. In addition to the problems at Cruise, GM last month agreed to a costly new contract with the United Auto Workers, and scaled back plans to expand electric-vehicle production. California regulators suspended Cruise's license to operate, and have accused Cruise officials of misrepresenting information about the incident.

Persons: Heather Somerville, Mary Barra, Cruise, Cruise's, Lawrence Paustian, Barra, Quinn Emanuel, Shinji Aoyama, It's, Kyle Martin, Martin, Jason Petitte, Paul Jacobson, Biden, Ben Klayman, Joseph White, David Shepardson, Matthew Lewis Organizations: General Motors Corp, REUTERS, Rights DETROIT, General Motors, GM, Honda, Cruise, United Auto Workers, Pzena Investment Management, Reuters, Westwood Group, California Department of Motor Vehicles, U.S . National, Traffic, Administration, Thomson Locations: San Francisco , California, U.S, Cruise, Japan, Chicago, Waymo, San Francisco, California, Detroit, Washington

☆ Chinese, American—It Doesn’t Matter. Israel Wants Inexpensive Drones.
▼ + stars: | 2023-11-09 | by ( Heather Somerville | Photographs Jessica Foley For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Hours after Hamas launched its deadly attack on Oct. 7, the requests from Israel came flooding into U.S. suppliers: drones, as many as possible, as soon as possible. The deluge came from people in the Israeli government and military as well as citizen groups, all looking for the small, off-the-shelf drones that have become increasingly commonplace in the civilian world, say U.S. drone executives and Israelis assisting the military.

Organizations: Hamas Locations: Israel, U.S

☆ GM to halt production of Cruise driverless van
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] FILE PHOTO: A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco, California, U.S., September 26, 2018. REUTERS/Heather Somerville/File Photo/File Photo Acquire Licensing RightsNov 6 (Reuters) - General Motors (GM.N) is finishing production on a small number of its pre-commercial fully autonomous van the Cruise Origin, after which the automaker plans to temporarily pause its production, a company spokesperson told Reuters on Monday. The Cruise Origin vehicle was jointly developed by GM, Cruise and Honda. The move comes after Cruise, the driverless car unit of General Motors, suspended all operations nationwide after California regulators ordered the robotaxi operator to remove its driverless cars from state roads. California regulators suspended the company's license to operate driverless vehicles last month, saying self-driving vehicles were a risk to the public.

Persons: Heather Somerville, Forbes, Kyle Vogt's, Vogt, Cruise, Akanksha Khushi, Mrinmay Dey, Nivedita Bhattacharjee, Dhanya Ann Thoppil Organizations: General Motors Corp, REUTERS, General Motors, GM, Cruise, Honda, Thomson Locations: San Francisco , California, U.S, Japan, Tokyo, California, Bengaluru

☆ Chinese Laser Sensor Maker Targeted as Tech Trade War Spreads
▼ + stars: | 2023-11-01 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Hesai Group , a Shanghai-based maker of laser sensors used for next-generation vehicles, celebrated a Nasdaq stock offering in February that was heralded by some as a comeback for Chinese listings in the U.S.Less than nine months later, Hesai has become an example of how the U.S.-China battle over technology is roiling the business world. Its stock is down more than 50%, and the company is on the back foot, hiring lobbyists and defending its reputation.

Persons: Hesai Organizations: Hesai, Nasdaq, U.S . Locations: Shanghai, U.S, China

☆ Heather Somerville — Reporter at The Wall Street Journal
▼ + stars: | 2023-10-31 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Heather SomervilleHeather Somerville is a reporter at The Wall Street Journal in San Francisco covering technology and national security. Her articles explore the national-security implications of emerging technology, U.S. efforts to counter China's rise as a technology power, and the relationship between Silicon Valley and the U.S. defense complex. Heather joined the Journal in 2019 to cover venture capital and technology companies. Before that, she wrote about venture capital and Silicon Valley startups for Reuters and the Mercury News. She was previously a reporter for the Fresno Bee and the Charlotte Observer and wrote about national security for outlets in Washington, D.C.

Persons: Heather Somerville Heather Somerville, Heather Organizations: Wall Street, Reuters, Mercury, Fresno Bee, Charlotte Observer Locations: San Francisco, Silicon Valley, Silicon, Washington ,

☆ The Latest Tech Caught in the U.S.-China Trade War: Lasers
▼ + stars: | 2023-10-31 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Persons: Hesai Organizations: Hesai, Nasdaq, U.S . Locations: Shanghai, U.S, China

☆ US probes GM's Cruise robocars over pedestrian close calls
▼ + stars: | 2023-10-27 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

NHTSA previously made public another Oct. 20 letter in which it raised concerns over several hard-braking incidents by Cruise vehicles that resulted in collisions. Safety officials cited two videos where Cruise vehicles came close to pedestrians in crosswalks and appeared to nearly strike them. Cruise had been operating an Uber-like service with unmanned vehicles, primarily in San Francisco, but the company halted that service this week. As of Friday, Waymo vehicles continued driverless passenger operations in San Francisco, its main hub. Reporting by Greg Bensinger in San Francisco Additional reporting by David Shepardson in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, Cruise, Greg Bensinger, David Shepardson, Matthew Lewis Organizations: General Motors Corp, REUTERS, FRANCISCO, General Motors, National, Traffic Safety Administration, NHTSA, Cruise, California Department of Motor Vehicles, Teamsters, Thomson Locations: San Francisco, California, U.S, crosswalks, Arizona, Texas, Washington

☆ US auto safety agency investigating two new GM Cruise crash reports
▼ + stars: | 2023-10-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File photo Acquire Licensing RightsWASHINGTON, Oct 26 (Reuters) - U.S. auto safety officials said on Thursday they are investigating two additional reports of General Motors (GM.N) Cruise self-driving cars engaging in inappropriately hard braking that resulted in collisions. The National Highway Traffic Safety Administration (NHTSA) said in December it had opened a formal safety probe into the GM robotaxi unit Cruise after reports of three crashes in which Cruise vehicles were struck from behind by other vehicles after the autonomous vehicles braked quickly, resulting in two injuries. "Inappropriately hard braking results in the Cruise vehicles becoming unexpected roadway obstacles and may result in a collision with a Cruise vehicle," NHTSA said in its letter. The DMV in August had directed Cruise to remove half of its driverless vehicles after another crash.

Persons: Heather Somerville, Cruise, David Shepardson, Rod Nickel Organizations: General Motors Corp, REUTERS, Rights, General Motors, Traffic Safety Administration, GM, NHTSA, Cruise, California's Department of Motor Vehicles, Thomson Locations: San Francisco, California, U.S

[1/2] A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. NHTSA's preliminary evaluation covers about 594 vehicles and is the first step before the agency seek to force a recall. In December, NHTSA opened a separate safety probe into the autonomous driving system in Cruise vehicles after reports of two injuries in rear-end crashes. NHTSA said Cruise vehicles "may engage in inappropriately hard braking or become immobilized." The DMV in August said it was investigating "recent concerning incidents" involving Cruise vehicles in San Francisco and asked the company to take half its robotaxis off the roads, a request Cruise complied with.

Persons: Heather Somerville, Mary Barra, Cruise, robotaxi, David Shepardsin, Nick Carey, Abinaya, Nivedita Bhattacharjee, Jan Harvey, Nick Zieminski Organizations: General Motors Corp, REUTERS, Rights, General Motors, Traffic Safety Administration, NHTSA, GM, Cruise, California Department of Motor Vehicles, California Public Utilities Commission, Thomson Locations: San Francisco, California, U.S, Cruise, Washington, London, Bengaluru

☆ California regulator probes crashes involving GM's Cruise robotaxis
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +3 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. The statement from California Department of Motor Vehicles (DMV) came after a Cruise robotaxi was involved in a crash with an emergency vehicle in San Francisco late on Thursday, the latest accident involving the self-driving cars. The two have been running robotaxi tests limited by times and geographic areas within San Francisco. San Francisco will suffer serious harms from this unfettered expansion," he said in a statement. Reporting by Abhirup Roy and Hyunjoo Jin in San Francisco; editing by Diane Craft and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, robotaxi, Cruise, David Chiu, Abhirup Roy, Hyunjoo Jin, Diane Craft, Sonali Paul Organizations: General Motors Corp, REUTERS, FRANCISCO, General Motors, California Department of Motor Vehicles, DMV, San Francisco Police Department, Reuters, California Public Utilities Commission, City, Thomson Locations: San Francisco, California, U.S, Cruise

☆ GM's Cruise robotaxi collides with fire truck in San Francisco
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +2 min

Initial investigation shows the collision occurred when a fire truck was operating in an emergency with its forward facing red lights and siren on, the San Francisco Police Department said in a statement to Reuters. The San Francisco Fire Department did not respond to requests for comment. The two have been running robotaxi tests limited by times and geographic areas within San Francisco. San Francisco will suffer serious harms from this unfettered expansion," he said in a statement. Reporting by Abhirup Roy in San Francisco; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, robotaxi, Cruise, David Chiu, Abhirup Roy, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, General Motors, Twitter, San Francisco Police Department, Reuters, Cruise, San Francisco Fire Department, California Public Utilities Commission, City, Thomson Locations: San Francisco, California, U.S, Cruise

☆ San Francisco moves to center of robotaxi universe after California agency vote
▼ + stars: | 2023-08-11 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +6 min

Cruise and Waymo have been running experimental services limited by times and geographic areas within San Francisco. The approval “marks the true beginning of our commercial operations in San Francisco,” said Tekedra Mawakana, Waymo co-CEO, in a prepared statement. San Francisco is important as both a symbolic hub of tech and, with hundreds of AVs already in operation, the largest test lab for the experimental cars. The vehicles, with empty driver seats and self-turning steering wheels, have become a common sight around San Francisco. Commissioner Genevieve Shiroma advocated for a delayed vote noting the volume of public comment and her lingering concerns following evidence that the vehicles have obstructed emergency vehicles in San Francisco.

Persons: Heather Somerville, Waymo, Motors ’, John Reynolds, AVs, Cruise, ”, Tekedra Mawakana, Prashanthi Raman, Uber, Genevieve Shiroma, Greg Bensinger, Jamie Freed, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, Motors, California Public Utilities Commission, Transportation, Cruise, Locals, San Francisco Municipal Transportation Agency, Technologists, Thomson Locations: San Francisco, California, U.S, San Francisco's, Francisco

☆ California agency to vote on San Francisco robotaxi expansion amid heavy opposition
▼ + stars: | 2023-08-10 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +3 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File PhotoSAN FRANCISCO, Aug 10 (Reuters) - Amid strenuous pushback from San Francisco officials and many residents, a California state agency is set to vote on Thursday on a proposal to allow the city to be blanketed in self-driving taxis at all hours. But the vote at the meeting that begins at 11 a.m. PDT (1800 GMT) comes amid vigorous opposition from transportation and safety agencies in San Francisco. The CPUC has twice delayed the vote, in part because of the mounting opposition. Outfitted with spinning sensors, Waymo and Cruise vehicles are an arresting sight around San Francisco, particularly to visitors unaccustomed to cars with no human driver behind the wheel.

Persons: Heather Somerville, Cruise, Waymo, Greg Bensinger, Jamie Freed Organizations: General Motors Corp, REUTERS, FRANCISCO, San Francisco, Motors, California Public Utilities Commission, San Francisco Municipal Transportation Agency, Thomson Locations: San Francisco, California, U.S, San

☆ San Francisco drives tech; will it drive away robot taxis?
▼ + stars: | 2023-08-07 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +7 min

[1/3] A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. Futuristic test vehicles from Cruise and Waymo are a common sight in some parts of San Francisco. The vote comes at a critical time for San Francisco, which is grappling with thousands of tech job losses, firms leaving the city, and COVID-era work-from-home policies that have contributed to a hollowed out downtown. loadingRamón Iglesias, another San Francisco resident, said that though he’d seen the videos and some erratic behavior from the cars, he supports the expansion and worries any further obstacles could drive tech companies away. “We have a very strong Luddite segment here in San Francisco and you see places like Las Vegas and Miami go out of their way to embrace tech,” said Iglesias, a data scientist.

Persons: Heather Somerville, Waymo, ”, Kyle Vogt, X, ” Cruise, San Francisco, Cruise, Julia Ilina, Mike Smith, Ramón Iglesias, he’d, Iglesias, “, London Breed, Greg Bensinger, Peter Henderson, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, Motors, San, San Francisco County Transportation Authority, Cruise, California Public Utilities Commission, Las, Ford, Tesla, Francisco, FIRST, ”, London, Thomson Locations: San Francisco, California, U.S, Francisco, San, San Francisco County, State, dazzled, Dallas, Miami, Las Vegas, Los Angeles

REUTERS/Heather Somerville/File PhotoAug 3 (Reuters) - Cruise, General Motors' (GM.N) robotaxi unit, said on Thursday it had signed the driverless car industry's first labor union agreements, a significant milestone as unions and robotaxi firms have historically been at odds. The company is partnering with two local San Francisco union chapters that represent electrical workers and janitors, the International Brotherhood of Electrical Workers Local 6 and Service Employees International Union Local 87. Reuters could not definitively determine if these are the driverless car industry’s first union agreements. Cruise, which offers limited service in San Francisco with a fleet of Chevrolet Bolts fitted with driverless technology, has accumulated over 3 million driverless miles, the company said. Reporting by Anna Tong in San Francisco; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, ”, John Doherty, Cruise, Anna Tong, Leslie Adler Organizations: General Motors Corp, REUTERS, General Motors, San, International Brotherhood of Electrical Workers, Employees International Union Local, Reuters, United Auto Workers, Detroit Three, GM, Chevrolet Bolts, California’s Public Utilities Commission, Thomson Locations: San Francisco, California, U.S, IBEW

The Justice Department has been urged by representatives of a U.S. national-security panel to consider economic-espionage charges against leaders of TuSimple Holdings Inc., an American self-driving-truck company with ties to China, according to people familiar with the matter. The recommendation for criminal charges, made late last year, stemmed from concerns that two founders and the current chief executive of the San Diego-based company were improperly transferring technology to a Chinese startup, the people said. The concerns were based on material gathered as part of a national-security review of TuSimple launched earlier last year.

☆ Startups End a Bruising 2022, Stare Down Another Challenging Year
▼ + stars: | 2023-01-01 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Startups had a dismal year by nearly every measurement in 2022, from plummeting investment to scarce public listings, and data point to a 2023 that could be even more difficult. As markets tanked in early 2022, many startup executives and investors were confident that a record amount of venture capital waiting to be spent—known as dry powder—and a lingering enthusiasm for new tech trends would buffer Silicon Valley.

☆ TuSimple Plans Layoffs That Could Cut at Least Half Its Workforce Next Week
▼ + stars: | 2022-12-16 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

As part of the downsizing, much of TuSimple’s operation in Tucson, Ariz., where it does a lot of its test driving, will be eliminated. Self-driving trucking company TuSimple Holdings Inc. plans to cut potentially half its workforce next week, people familiar with the matter said, as it scales back efforts to build and test autonomous truck-driving systems. A staff reduction of that size would likely affect at least 700 employees, the people said. As of June, TuSimple had 1,430 full-time employees globally. It has operations in San Diego, Arizona, Texas and China.

☆ Watch: Brittney Griner Arrives in the U.S. After Prisoner Swap
▼ + stars: | 2022-12-09 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Theranos Ex-President Sunny Balwani Sentenced to Almost 13 Years Theranos Inc.’s former No. 2 executive, Ramesh ‘Sunny’ Balwani, was sentenced Wednesday to just under 13 years in prison for his involvement in a fraud scheme at the blood-testing company. WSJ’s Heather Somerville breaks down the judge’s decision. Photo: Jason Henry for The Wall Street Journal

☆ Brittney Griner Returns Home: A Timeline of Her Detainment and Release
▼ + stars: | 2022-12-09 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

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