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Culture issues, ineptitude and poor leadership at General Motors' Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since October, according to the findings of a third-party probe. Results of the investigation, which reviewed whether Cruise representatives misled investigators or members of the media in discussing the incident, were published Thursday in a 105-page report. "This conduct has caused both regulators and the media to accuse Cruise of misleading them," the report stated. Quinn Emanuel, the business litigation firm that Cruise retained to conduct the three-month investigation, interviewed 88 Cruise employees and reviewed more than 200,000 documents, including emails, texts, Slack messages and more. The firm is known for representing high-profile celebrities and business owners, including Tesla CEO Elon Musk.

Persons: Cruise, Quinn Emanuel, Slack, John Potter, Quinn Emanuel Urquhart, Elon Musk Organizations: General Motors, Cruise, CNBC, Sullivan, Tesla Locations: Cruise, San Francisco

☆ 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

☆ Apple is pivoting to a less ambitious design for its autonomous EV amid launch delays, report says
▼ + stars: | 2024-01-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Apple is pivoting to a less ambitious design for its autonomous EV, Bloomberg reported. The tech giant is pivoting to a less complex design and delaying the launch date for its planned autonomous vehicle, Bloomberg reported, citing people familiar with the situation. Following board meetings, the company has limited the car's autonomous features and downgraded the EV to Level 2+ autonomy, Bloomberg reported. AdvertisementApple's EV release date has also been pushed back, with the company expecting a 2028 launch at the very earliest, the Bloomberg report said. Its most formidable competitors will likely be Tesla and China's BYD, both of which dominate the global EV market.

Persons: —, Apple, Forbes, BYD Organizations: Apple, EV, Bloomberg, Service, Mercedes, Benz, Business, Reuters

☆ People think self-driving cars should be 'better' than human drivers, executive says
▼ + stars: | 2024-01-19 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

AdvertisementMany people think self-driving cars should be better than human drivers, an industry executive said. "There's a difference between an accident caused by a human driver, and an accident caused by an autonomous system," said Majors. Advertisement"I think that the expectation is that they have to be a lot better than a human driver, because when there is an accident and the computer's involved, there's less empathy or understanding." Majors said that Motional, a Hyundai-Aptiv joint venture developing autonomous technology, had operated more than 2 million miles autonomously with no at-fault crashes. Cruise, which was trialing "robotaxi" services that ferried passengers around San Francisco without a human driver, was forced to recall its entire fleet late last year.

Persons: Laura Majors, Motional, Cruise, —, Majors, Tesla, Elon Musk's, Robert Falck, " Falck Organizations: Hyundai, Tesla, Service, Economic, GM, Einride, Business Locations: San Francisco, Davos, Cruise, California

☆ 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will be no different
▼ + stars: | 2024-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.

Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, —, Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington

☆ China issues safety guidelines for autonomous public transport vehicles
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Baidu's Apollo car with an autonomous driving system, which serves for self-driving taxi services, is seen at the Shougang Industry Park in Beijing, China July 30, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - China on Tuesday issued safety guidelines for the use of autonomous vehicles in public transport, the latest in a series of measures preparing for the increased use of driverless cars. The guidelines apply to autonomous vehicles for passengers including taxis as well as for freight transportation, the Ministry of Transport said in a statement. They also require companies using autonomous vehicles for public transport to be qualified and licensed and state that companies can work together with automakers on such operations. In October, it issued guidelines for highway engineering facilities to support autonomous driving technology.

Persons: Tingshu Wang, Albee Zhang, Zoey Zhang, Brenda Goh, Christopher Cushing Organizations: REUTERS, Rights, Ministry of Transport, Thomson Locations: Beijing, China, Rights BEIJING

☆ Waymo is full speed ahead as safety incidents and regulators stymie competitor Cruise
▼ + stars: | 2023-12-05 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Waymo, Alphabet 's self-driving car unit, is having a relatively good couple of months – at least, compared to one of its key rivals: GM 's Cruise. When Cruise began offering fully autonomous rides in San Francisco in the winter of 2022, Waymo followed in the fall. Now, after a barrage of safety concerns and incidents with Cruise self-driving cars in recent months, the landscape looks starkly different. I have worked with pretty high-scale systems before Waymo, at Google and Ericsson, and this is a pretty staggering scale. [Note: Waymo recently shared that Waymo riders took more than 700,000 trips in autonomous vehicles in 2023.]

Persons: Cruise, Waymo, Saswat Panigrahi, you've, –, … Organizations: Google, Cruise, California Department of Motor Vehicles, GM, CNBC, Ericsson, Phoenix Locations: Phoenix, San Francisco, Austin, Buffalo , New York, California, U.S

The San Francisco skyline is seen behind a self-driving GM Bolt EV during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. The California Public Utilities Commission (CPUC) on Friday ordered Cruise to appear at a Feb. 6 hearing for "misleading the Commission through omission regarding the extent and seriousness of the accident" and "making misleading public comments regarding its interactions with the commission." Cruise's troubles are also a setback for an industry dependent on public trust and the cooperation of regulators. GM had told investors Cruise and its technology could generate $50 billion a year in revenue by 2030. Reporting by Hyunjoo Jin in San Francisco and David Shepardson in Washington, Additional reporting by Abhirup Roy in San Francisco; Editing by Richard Chang and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Cruise, Kyle Vogt, Daniel Kan, Jose Alvarado, Ashlyn Kong, Kong, ”, Tim Piechowski, Waymo, John Reynolds, Gavin Newsom, Mary Barra, Hyunjoo Jin, David Shepardson, Abhirup Roy, Richard Chang, Nick Zieminski Organizations: San, GM Bolt, REUTERS, General Motors, GM, California Public Utilities Commission, CPUC, Cruise, Capital Research, California's Department of Motor Vehicles, Thomson Locations: San Francisco, San Francisco , California, U.S, California, United States, Washington

☆ CNBC Daily Open: The heat is truly on COP28
▼ + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Japan's Nikkei 225 closed 0.5% higher, clocking monthly gains of more than 8%, while South Korea's KOSPI finished the day up 0.6%, advancing more than 11% this month. [PRO] Golden crossesThree stocks are on the verge of taking off, according to a chart pattern closely watched by technical analysts. The phenomenon, known as a "golden cross," occurs when a stock's 50-day moving average share price rises above the longer-term 200-day moving average.

Persons: KOSPI, China's, Rebooting, Sam Altman, Altman Organizations: Expo, CNBC, Nikkei, Dow Jones, National Bureau of Statistics, Microsoft, Auto, United Auto Workers, Volvo, BMW, Mercedes, Benz, Hyundai, Honda, Toyota, Detroit, General Motors Locations: Dubai, United Arab Emirates, Asia, Pacific, South, Hong Kong, China, OpenAI, U.S

☆ Nvidia and more: These global stocks will soar on a $324 billion autonomous vehicle boom, analysts say
▼ + stars: | 2023-11-30 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Autonomous vehicles — or vehicles embedded with chips and sensors to enable self-driving — have been picking up steam, and several stocks make good plays on the theme, according to Fubon Research. Providers of sensors and cameras are among the autonomous vehicle related companies on Fubon Research's watch. 3008-TW YTD mountain Year-to-date share price of Largan Precision On Largan, Fubon Research's analysts pointed out that the company stands to gain from the addition of cameras in autonomous vehicles. "Cameras have become an important part of ADAS and autonomous driving. NVDA YTD mountain Year-to-date share price of Nvidia Meanwhile, Nvidia made Fubon Research's watch list thanks to its development of autonomous vehicle technologies under its NVIDIA DRIVE platform.

Persons: Fubon, Tong, — CNBC's Michael Bloom Organizations: Research, Jefferies, Autonomous, Nvidia, NVIDIA, Primax Electronics, Qualcomm Inc Locations: Taiwan, ADAS

☆ CNBC Daily Open: The COP28 heat is on
▼ + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 ticked down 0.09% to end at 4,550.58, and the Nasdaq Composite slipped by 0.16% to 14,258.49. The force is risingSalesforce shares rose 7% in extended trading on Wednesday after the cloud software vendor's third-quarter earnings topped analysts' estimates. [PRO] Beware crowded tradesThe S&P 500 is up more than 8% in November, putting it on track for its biggest monthly gain since July 2022.

Persons: Dow Jones, Jensen, Jensen Huang, CNBC's Andrew Ross Sorkin, Huang, Morgan Stanley, Russell Organizations: Expo, CNBC, Dow Jones, Dow, Nasdaq, Commerce Department, Gross, Federal Reserve, United Auto Workers, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volkswagen, Volvo, General Motors, Nvidia Locations: Dubai, United Arab Emirates, U.S, China

☆ 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

☆ GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
▼ + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors is seeking to regain Wall Street's confidence leading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles. GM's reinstated 2023 guidance also includes:Net income attributable to stockholders of $9.1 billion to $9.7 billion, compared to a previous outlook of $9.3 billion to $10.7 billion. Adjusted EBIT of $11.7 billion to $12.7 billion, compared to the previous outlook of $12.0 billion to $14.0 billion. Adjusted earnings per share of roughly $7.20 to $7.70 including the stock buyback, compared to the previous outlook of $7.15 to $8.15. Before the UAW strikes, CFO Paul Jacobson said the company was on track to achieve "toward the upper half" of its earnings forecast.

Persons: Mary Barra, General Motors, GM's, Paul Jacobson Organizations: General Motors Company, Milken Institute Global Conference, General, Detroit, United Auto Workers, GM, UAW Locations: Beverly Hills , California

☆ 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

The company now predicts full-year net income of $9.1 billion to $9.7 billion, down from its previous outlook of $9.3 billion to $10.7 billion. But GM expects to generate more cash for the full year. To get there, GM expects to cut capital spending, including a slowdown in spending on electric vehicles and at Cruise, its troubled autonomous vehicle unit. In June of last year, electric vehicle sales were growing about 90% year over year, according to Motorintelligence.com. Barra wrote that GM has a strong cash balance due to record profits from selling gas-powered vehicles and more efficient internal combustion and electric vehicle operations.

Persons: Motors, Barra, Cruise, It's, Mary Barra, Shawn Fain, she’s, ” Barra Organizations: DETROIT, —, autoworkers, Detroit, Wednesday, United Auto Workers, GM, San, Cruise, Ford, UAW Locations: Cruise, California, San Francisco, Barra, Detroit

☆ Top Wall Street analysts recommend these stocks for a long-term horizon
▼ + stars: | 2023-11-26 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street experts are able to delve into the details and determine which stocks might have the best prospects for the long term. Here are five stocks favored by the top pros on the Street, according to TipRanks, a platform that ranks analysts based on their past performance. Saleh holds the 504th position among more than 8,600 analysts on TipRanks. (See Domino's Options Activity on TipRanks)Palo Alto NetworksAnother BTIG analyst, Gray Powell, is bullish on cybersecurity company Palo Alto Networks (PANW). Feinseth ranks No.337 among more than 8,600 analysts on TipRanks.

Persons: Peter Saleh, Saleh, Uber, Gray Powell, Powell, billings, Goldman Sachs, Kash Rangan, Rangan, TipRanks, Ivan Feinseth, Feinseth Organizations: Domino's, TipRanks, Palo Alto Networks, Google Cloud, Tigress, Intel Locations: Palo, billings, TipRanks

Many countries are working on them — and neither China, Russia, Iran, India or Pakistan have signed a U.S.-initiated pledge to use military AI responsibly. Another AI project at Space Force analyzes radar data to detect imminent adversary missile launches, he said. One urgent challenge, says Jane Pinelis, chief AI engineer at Johns Hopkins University’s Applied Physics Lab and former chief of AI assurance in Martell’s office, is recruiting and retaining the talent needed to test AI tech. Testing and evaluation standards are also immature, a recent National Academy of Sciences report on Air Force AI highlighted. Might that mean the U.S. one day fielding under duress autonomous weapons that don’t fully pass muster?

Persons: —, Replicator —, Kathleen Hicks, ”, Gregory Allen, we’ve, Missy Cummings, George Mason, Lisa Costa, Wallace ‘ Rhet ’ Turnbull, Tom Siebel, Matt Visser, Palantir, Jack Shanahan, Maven, Mark Milley, Christian Brose, Paul Scharre, ” Anduril, Nathan Michael, Michael, Shanahan, Craig Martell, Martell, Jane Pinelis, “ Organizations: U.S ., Russia, Air Force, China, Pentagon, Department of Defense, Center for Strategic, International Studies, Navy, ” U.S . Space Force, Space Force, Space Systems Command, Blackhawk, ., U.S . Missile Defense Agency, Defense Counterintelligence, Security Agency, Third Infantry Division, NATO, Maven, National Geospatial - Intelligence Agency, U.S . Special Operations, ISIS, Command, Control, Chiefs, Armed Services Committee, U.S, Marines, Special Forces, Industry, BAT, Marine Expeditionary, Pentagon AI, LinkedIn, Johns Hopkins, Lab, National Academy of Sciences Locations: Md, Ukraine, U.S, China, Russia, Iran, India, Pakistan, ” U.S, Silicon Valley

The San Francisco skyline is seen behind a self-driving GM Bolt EV during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. Cruise had in recent months touted ambitious plans to expand to more cities, offering fully autonomous taxi rides. GM lost more than $700 million at Cruise in the third quarter and more than $8 billion since 2016. Cruise has operations in Phoenix and Austin, where regulators have been more accommodating. As part of its previous expansion plans, Cruise had last year asked the National Highway Traffic Safety Administration (NHTSA) for permission to deploy up to 2,500 self-driving vehicles annually without human controls.

Persons: Elijah Nouvelage, Kyle Vogt, Daniel Kan, Cruise, Paul Jacobson, Mary Barra, Morgan Stanley, Adam Jonas, Waymo, Samrhitha, David Shepardson, Joe White, Sayantani Ghosh, Arun Koyyur Organizations: San, GM Bolt, REUTERS, General Motors, Cruise, GM, Reuters, United Auto Workers, FRANCISCO GM, Traffic Safety Administration, NHTSA, Thomson Locations: San Francisco, San Francisco , California, U.S, California, United States, Washington, Phoenix, Austin, Bengaluru, Detroit

☆ Goldman, JPMorgan and others crank up Nvidia price targets in wake of latest earnings
▼ + stars: | 2023-11-22 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Several analysts hiked their price targets for the stock to show they expect greater upside ahead after the latest financials. Below, CNBC Pro compiled a list of major investment firms that raised their price targets following the Nvidia report, along with their key conclusions: Goldman Sachs Analyst Toshiya Hari raised the price target by $20 to $625. Morgan Stanley Analyst Joseph Moore added $3 to his price target, bringing it to $603. BMO Capital Markets Like JPMorgan, BMO analyst Ambrish Srivastava hiked his target price by $50 to $650. Bernstein Analyst Stacy Rasgon increased his target price by $25 to $700, equating to 40% upside over the coming year.

Persons: Jensen Huang, chalked, Goldman Sachs, Toshiya Hari, Harlan Sur, Morgan Stanley, Joseph Moore, Aaron Rakers, Vivek Arya, Timothy Arcuri, NVDA, Ambrish Srivastava, Grace Hopper, Ruben Roy, Bernstein, Stacy Rasgon, Vijay Rakesh yanked, 2024E, INTC's, William Stein, Michael Bloom Organizations: Nvidia, CNBC Pro, Center, Foundry Service, JPMorgan, NVIDIA, " Bank of America, NVDA, UBS, BMO, Markets, AMD Locations: China, Tuesday's, CY24, CY25

☆ GM’s driverless ride heads into a ditch
▼ + stars: | 2023-11-21 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

A self-driving GM Bolt EV is seen during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. Automotive giant GM acquired Cruise in 2016, subsequently bringing on investors including SoftBank’s (9984.T) Vision Fund, Honda Motor (7267.T) and Microsoft (MSFT.O). The question is whether GM’s autonomous division has enough momentum to recover from that loss. CONTEXT NEWSDaniel Kan, co-founder and chief product officer of General Motors’ autonomous taxi business Cruise, resigned from the company on Nov. 20, Reuters reported. California’s Department of Motor Vehicles suspended Cruise’s autonomous license in the state on Oct. 24, saying that the company had “misrepresented” the safety of its technology.

Persons: Elijah Nouvelage, Tesla, that’s, Cruise’s, Cruise, Kyle Vogt, Daniel Kan –, Sam Altman, Elon Musk, Mary Barra hasn’t, SoftBank, Daniel Kan, John Foley, Sharon Lam Organizations: GM Bolt, REUTERS, Reuters, General Motors, Automotive, GM, Cruise, Vision Fund, Honda, Microsoft, Uber Technologies, Ford, U.S . National, Traffic, Administration, California’s Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, San Francisco, California

☆ Analysts love these EV-related stocks, giving 2 of them more than 100% upside
▼ + stars: | 2023-11-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The Global X Autonomous and Electric Vehicles exchange-traded fund, which includes companies across multiple parts of the EV supply chain, is up around 16% in the year to date. The Global X Autonomous and Electric Vehicles ETF is one of a number of ETFs that offer a way to invest in a basket of stocks across the supply chain. About a third of the 76 holdings are tech and communications stocks, with industrials, materials, auto stocks and others making up the rest. For investors who want to buy EV-related stocks, CNBC Pro screened the Global X Autonomous and Electric Vehicles ETF for stocks with more than 30% upside over the next 12 months. Lithium producers include Livent and Piedmont Lithium — the latter attracted the only 100% buy rating from analysts and a whopping potential upside of 165.1%.

Persons: Geely Organizations: Autonomous and Electric Vehicles, Analysts, Autonomous and Electric Vehicles ETF, CNBC Pro, Global, EV, General Motors, Renault, Luminar Technologies, . Semiconductor, Nvidia, Infineon Locations: U.S, French

☆ GM Cruise cofounder, senior exec Dan Kan quits day after CEO exit
▼ + stars: | 2023-11-20 | 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: +2 min

REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsNov 20 (Reuters) - General Motors' (GM.N) Cruise co-founder and chief product officer Daniel Kan has resigned, the company told Reuters on Monday, a day after Cruise CEO Kyle Vogt quit. A spokesperson for Cruise said Kan announced his resignation in a Slack message. In his message to employees, seen by Reuters, Kan noted that Cruise had been serving 10,000 rides per week. GM shuffled leadership at Cruise including naming general counsel Craig Glidden as chief administrative officer, bringing in a third-party safety officer and appointing co-presidents. U.S. Transportation Secretary Pete Buttigieg told reporters on Monday the federal government will do everything it can using existing regulatory powers to ensure that Cruise and other autonomous vehicles are deployed safely.

Persons: Elijah Nouvelage, Cruise, Daniel Kan, Kyle Vogt, Kan, Vogt, Kan didn't, Craig Glidden, Pete Buttigieg, Greg Bensinger, Chizu Nomiyama, Chris Reese, Cynthia Osterman Organizations: GM Bolt, REUTERS, General Motors, Reuters, Cruise, GM, U.S . Transportation, Thomson Locations: San Francisco , California, U.S, United States, San Francisco

☆ US transport chief aims to ensure Cruise, other self-driving vehicles safe
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Cruise CEO Kyle Vogt resigned on Sunday, a day after apologizing to staff as the company undergoes a safety review of its U.S. fleet. Cruise pulled all of its vehicles from U.S. testing after an Oct. 2 accident in San Francisco that involved another vehicle and ended with one of Cruise's self-driving taxis dragging a pedestrian. "We're going to do everything we can with the authorities we do have, which are not trivial," Buttigieg told reporters. The unit had in recent months touted ambitious plans to expand to more cities, offering fully autonomous taxi rides. Cruise competes with Alphabet's (GOOGL.O) Waymo in deploying autonomous vehicles and had been testing hundreds in several cities across the United States, notably its home of San Francisco.

Persons: Transportation Pete Buttigieg, Joe Biden, Leah Millis, Pete Buttigieg, Kyle Vogt, Cruise, Buttigieg, David Shepardson, Will Dunham, Chizu Organizations: Transportation, South, REUTERS, Rights, . Transportation, Motors, Traffic Safety Administration, California Department of Motor Vehicles, Transport Workers Union of America, Brotherhood of Teamsters, United Auto Workers, NHTSA, Thomson Locations: Washington , U.S, San Francisco, Buttigieg's, United States

☆ CEO of GM's Cruise robo-taxi unit resigns amid US safety review
▼ + stars: | 2023-11-20 | 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

Nov 19 (Reuters) - - Kyle Vogt, the CEO of General Motors' robot-taxi unit Cruise, has resigned from the company a day after apologizing to staff as the company undergoes a safety review of its U.S. fleet. The Cruise board met on Nov. 13 and the next day named GM general counsel Craig Glidden as Cruise's chief administrative officer. The board also said it would retain a third-party safety expert to assess safety operations and culture. Former Tesla President Jon McNeill, a GM director since 2022, was named vice chairman of the Cruise board alongside Barra, who is the chair. The National Highway Traffic Safety Administration in October opened an investigation into pedestrian risks at Cruise and the Cruise board hired law firm Quinn Emanuel to review Cruise management's responses to regulators investigating the Oct. 2 accident.

Persons: Kyle Vogt, Vogt, Cruise, Vogt's, Craig Glidden, Stephen Lam, Mary Barra, Glidden, Mo Elshenawy, Jon McNeill, Barra, Quinn Emanuel, Greg Bensinger, David Shepardson, Kenneth Li Organizations: General Motors, Reuters, GM, Cruise, Honda, REUTERS, California Department of Motor Vehicles, Traffic Safety Administration, Thomson Locations: United States, San Francisco , California, U.S, San Francisco

☆ GM's Cruise robo-taxi CEO resigns from company
▼ + stars: | 2023-11-20 | 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: +2 min

Kyle Vogt, chief technology officer, president & co-founder of Cruise, a Honda and General Motors self-driving car partnership, speaks on stage at the launch of the Cruise Origin autonomous vehicle in San Francisco, California, U.S. January 21, 2020. REUTERS/Stephen Lam/File Photo Acquire Licensing RightsNov 19 - The CEO of General Motors' robot-taxi unit Cruise, Kyle Vogt, has resigned from the company a day after apologizing to staff as the company undergoes a safety review of its U.S. fleet. "The last 10 years have been amazing, and I'm grateful to everyone who helped Cruise along the way," he wrote in the email. Cruise in recent months had touted ambitious plans to expand to additional cities offering fully autonomous taxi rides. Cruise competes with Alphabet’s (GOOGL.O) Waymo in deploying autonomous vehicles and had been testing hundreds in several cities across the U.S., notably its home of San Francisco.

Persons: Kyle Vogt, Cruise, Stephen Lam, Vogt, Greg Bensinger, Kenneth Li Organizations: Honda, General Motors, Cruise, REUTERS, Reuters, California Department of Motor Vehicles, Thomson Locations: San Francisco , California, U.S, Vogt, San Francisco

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