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☆ 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

☆ Founder and CEO of GM’s self-driving car unit resigns in wake of safety problems
▼ + stars: | 2023-11-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Kyle Vogt, the head of General Motors’ self-driving car unit Cruise, resigned from the company late Sunday. Despite the myriad of problems and the turnover at the top, GM said Sunday it was sticking with Cruise and its efforts to develop self-driving cars. Besides the safety issues at Cruise, the unit has cost the company $5.9 billion before interest and taxes since the start of 2020. The most serious accident involving Cruise was one on October 2 involving a pedestrian in San Francisco who was critically injured when hit, first by a traditional human-driven car, then by a Cruise driverless car. Two weeks later the National Highway Traffic Safety Administration said that accident and reports of other accidents involving Cruise vehicles and pedestrians, prompted it to launch a safety probe into Cruise vehicles.

Persons: Kyle Vogt, Cruise, robotaxis, ”, Vogt, ” Vogt, Craig Glidden, Mo Elshenawy, “, ” – CNN’s Peter Valdes, Dapena Organizations: New, New York CNN, General Motors, Honda, GM, Cruise, Ford, Volkswagen, Traffic Safety Administration, Cruisers, Reuters, “ Locations: New York, San Francisco, Japan, California

Fortescue approved investments in the U.S. hydrogen hub in Phoenix, Arizona; the Gladstone 50 megawatt green hydrogen project in Queensland, Australia; and the Christmas Creek green iron trial commercial plant in Western Australia. About $550 million will be used for developing an electrolyser and liquefaction facility in Phoenix, where first production of liquid green hydrogen is targeted for 2026. I think some of the market's concerns will be allayed because the capital investment required is pretty minimal in the scheme of things." Under a plan to ramp up its green energy business, Fortescue said in August it would stop allocating 10% of its net profit to that unit. Fortescue shares were up 1% on Tuesday in a strong market for iron ore miners, with peers BHP (BHP.AX) and Rio Tinto (RIO.AX) up 1.5% and 2% respectively.

Persons: Melanie Burton, Australia's Fortescue, Fortescue, David Coates, BHP, Himanshi, Richard Chang, Clarence Fernandez Organizations: Fortescue Metals Group, REUTERS, Arizona, MELBOURNE, Gladstone, Fortescue Energy, Fortescue, Rio Tinto, Thomson Locations: Pilbara, Port Hedland, Western Australia, U.S, Phoenix , Arizona, Queensland, Australia, Phoenix, Brazil, Kenya, Norway, BellPotter, Sydney, Michigan, New York, Rio, Bengaluru

Cruise founder and CEO Kyle Vogt has resigned from his role at the autonomous vehicle venture owned by General Motors, according to a company statement sent to CNBC on Sunday. Cruise CEO and co-founder Kyle Vogt has resigned from his role at the autonomous vehicle venture owned by General Motors , according to a company statement sent to CNBC on Sunday. Mo Elshenawy, who previously served as executive vice president of engineering at Cruise, will now serve as president and CTO for Cruise, the company said. Vogt confirmed his resignation Sunday night in a social media post on X, formerly known as Twitter. The departing CEO also offered words of encouragement, writing: "Cruise is still just getting started, and I believe it has a great future ahead.

Persons: Kyle Vogt, Mo Elshenawy, Vogt, Cruise Organizations: General Motors, CNBC, Sunday, Cruise, Twitter, California Department of Motor Vehicles, California DMV Locations: San Francisco, California

☆ Cruise CEO resigns after all of the company's robotaxis were forced to stop operating
▼ + stars: | 2023-11-20 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKyle Vogt has resigned as CEO of Cruise, General Motors' autonomous vehicle unit, as questions build about the safety of self-driving cars. Since then, the autonomous vehicles have drawn complaints for making unexpected, traffic-clogging stops that critics say threaten to inconvenience other travelers and imperil public safety. Late last year, U.S. safety regulators said they were investigating reports that autonomous robotaxis run by Cruise can stop too quickly or unexpectedly quit moving, potentially stranding passengers. Problems at Cruise could slow the deployment of fully autonomous vehicles that carry passengers without human drivers on board.

Persons: Cruise, —, Kyle Vogt, Vogt, Mo Elshenawy, Craig Glidden, Twitch Organizations: Service, General Motors, California Department of Motor Vehicles, Cruise, GM, Massachusetts Institute of Technology, Amazon Locations: California, San Francisco, Cruise

☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

☆ Autonomous Cars Beat EVs
▼ + stars: | 2023-11-19 | by ( Andy Kessler | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week’s best and worst from Bill McGurn, Kate Bachelder Odell, Mene Ukueberuwa, and Kim Strassel. And given high prices for EVs, subsidies are mainly a giveaway to the already well-off. If you add up carbon emissions from manufacturing, daily use and end of life, EVs have total life-cycle emissions 30% lower than gasoline-powered autos. In Silicon Valley, something is considered truly transformational if it’s 10 times better, not a third. Instead of throwing taxpayer money at EVs, President Biden could have been a hero and helped bring autonomous vehicles to the market faster.

Persons: Bill McGurn, Kate Bachelder Odell, Mene Ukueberuwa, Kim Strassel, Mark Kelly, Ford, Biden Organizations: Getty, Honda, General Motors Locations: Silicon, EVs

Kyle Vogt, a founder and chief executive of Cruise, the driverless car subsidiary of General Motors, resigned on Sunday, less than a month after Cruise suspended all autonomous operations after a series of traffic mishaps. Mr. Vogt had faced criticism for months as Cruise’s self-driving operations ran into issues in cities such as San Francisco. At various points, Cruise’s autonomous vehicles were involved in accidents, with outrage mounting after one of its cars dragged a pedestrian 20 feet after a crash in October. In a statement, Cruise said that its board had accepted Mr. Vogt’s resignation, but it did not specify what had led to his departure. The company did not name a new chief executive but appointed a new president who also became its chief technology officer and a new vice chairman.

Persons: Kyle Vogt, Cruise, Vogt, Vogt’s, ” Organizations: General Motors Locations: San Francisco

Kyle Vogt has resigned as CEO of Cruise, General Motors’ autonomous vehicle unit, as questions build about the safety of self-driving cars. The California Department of Motor Vehicles revoked the license for Cruise. Since then, the autonomous vehicles have drawn complaints for making unexpected, traffic-clogging stops that critics say threaten to inconvenience other travelers and imperil public safety. Problems at Cruise could slow the deployment of fully autonomous vehicles that carry passengers without human drivers on board. It said Craig Glidden also will serve as president and continue as chief administrative officer for Cruise, an appointment announced earlier.

Persons: Kyle Vogt, Cruise, ” Cruise, Vogt, Mo Elshenawy, Craig Glidden, Twitch Organizations: Motors, California Department of Motor Vehicles, Cruise, ”, GM, Massachusetts Institute of Technology, Amazon Locations: San Francisco, Cruise

☆ Cruise testing continues in Japan, Dubai, even as vehicles parked in US
▼ + stars: | 2023-11-17 | 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

At issue is an Oct. 2 accident in which a Cruise vehicle dragged a pedestrian in San Francisco after striking her. As recently as October, it had hundreds of autos carrying passengers around San Francisco with no drivers and had announced aggressive expansion plans. In Dubai, Cruise vehicles have primarily been seen recently on a couple of islands on the outskirts of the main city. In Japan, Honda (7267.T) and Cruise have jointly been testing self-driving vehicles on public roads in the city of Utsunomiya - a regional hub of about 513,000 people - and the adjacent Haga town. Reporting by Greg Bensinger in San Francisco; Additional reporting by Daniel Leussink in Toyko and Rachna Uppal in Dubai Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, General Motors, Cruise, ”, “, Bryant Walker Smith, Greg Bensinger, Daniel Leussink, Ben Klayman, Matthew Lewis Organizations: GM Bolt, REUTERS, FRANCISCO, General, Reuters, University of South, National, Traffic Safety Administration, California Department of Motor Vehicles, Cruise, Honda, Thomson Locations: San Francisco , California, U.S, Dubai, Japan, University of South Carolina, Arizona, San Francisco, California, Utsunomiya, Haga town, Toyko

☆ Cruise Suspends Employee Share Program, Citing Need to Revalue Business
▼ + stars: | 2023-11-16 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

General Motors’ self-driving car unit Cruise has paused its U.S. operations after California regulators called its vehicles unsafe. WSJ reporter Ryan Felton explains what this decision means for the future of autonomous vehicles and rivals like Google’s self-driving unit Waymo. Photo: Elijah Nouvelage/ReutersGeneral Motors ’ Cruise is suspending an internal program that allows employees to cash out shares in the driverless-car company, citing the need to revalue the business after a pedestrian accident led it to halt robotaxi services last month. Cruise notified employees of the decision Thursday in an email from Chief Executive Kyle Vogt , which was viewed by The Wall Street Journal. The autonomous-driving startup, majority owned by GM, told employees that the regular quarterly offer to sell shares would be canceled as it re-evaluates the program.

Persons: Ryan Felton, Elijah Nouvelage, Kyle Vogt Organizations: Motors, Reuters General Motors, Wall Street, GM Locations: California

☆ Cruise is taking all its vehicles off public roads amid expanded safety probe, staff changes
▼ + stars: | 2023-11-15 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"This orderly pause is a further step to rebuild public trust while we undergo a full safety review," Cruise wrote in a blog post. Last week, Cruise announced it would recall 950 robotaxis after a pedestrian collision. In October, the California Department of Motor Vehicles suspended Cruise's deployment and testing permits for its autonomous vehicles, effective immediately. "When there is an unreasonable risk to public safety, the DMV can immediately suspend or revoke permits," the California DMV said in a statement at the time. Last Thursday, Cruise announced a round of contractor layoffs.

Persons: Kyle Vogt, Cruise, Craig Glidden, Glidden, — Organizations: Cruise Automation Inc, Southwest, General Motors, California Department of Motor Vehicles, California DMV, Federal, GM, CNBC Locations: Austin , Texas, San Francisco, California, Unifi

☆ Cruise's recall means trouble for driverless car companies
▼ + stars: | 2023-11-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Cruise recalled its entire driverless car fleet after they were banned in California following a fatality. Now other driverless car companies are facing questions over the safety of their vehicles. AdvertisementAdvertisementCruise's robotaxi rollout in San Francisco has turned into a fiasco , with the driverless car firm facing growing questions over just how safe its vehicles really are . A self-driving Waymo car in San Francisco. AdvertisementAdvertisementCruise's recall has sparked renewed scrutiny of the decision to allow the driverless car company and its rival Waymo to operate their robotaxi services in San Francisco 24/7 .

Persons: Cruise, —, Pete Buttigieg, Sen, David Cortese, Gavin Jackson, Jackson, Waymo Organizations: Service, Google, Getty Locations: California, San Francisco, Phoenix, Austin, Los Angeles

☆ Cruise begins layoffs after suspending its self-driving robotaxis following a collision that dragged pedestrian beneath car
▼ + stars: | 2023-11-10 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +3 min

Some Cruise contractors have been laid off following its suspension of robotaxi operations. Cruise's CEO also reportedly told staff this week that layoffs involving full-time staff are coming. AdvertisementAdvertisementCruise contractors were hit with layoffs after the self-driving car company had its permit revoked in California and subsequently suspended all of its driverless robotaxi operations nationwide. "Cruise has made the difficult decision to reduce a portion of the contingent workforce that supported driverless ridehail operations," a Cruise spokesperson told Insider. GM, Cruise's parent company, then paused all Cruise robotaxi operations nationwide.

Persons: Cruise, —, Kyle Vogt, Forbes, Vogt Organizations: Service, GM Locations: California, San Francisco

☆ Tesla CEO Elon Musk is a 'charismatic' CEO, but yet to deliver on big promises, analysts say
▼ + stars: | 2023-11-10 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk must deliver on ambitious Tesla projects to justify its stock price, HSBC analysts said. Musk has made big promises including to release its humanoid robots and building a supercomputer. AdvertisementAdvertisementElon Musk's grandiose ideas for Tesla must come to fruition to justify its high-priced stock, HSBC analysts said. In recent years, the company has made bold pledges related to its plans for humanoid robots, a supercomputer, and fully self-driving cars. Musk is a "charismatic CEO with a cult-like following," the analysts said, adding that he also "feeds into the innovator narrative."

Persons: Elon, —, Tesla, Musk Organizations: HSBC, Service, Reuters, Dojo

☆ GM's Cruise slashes contractor roles after driverless car suspension
▼ + stars: | 2023-11-09 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Cruise announced a round of layoffs Thursday affecting contract workers who worked on its driverless ridehailing service, CNBC has learned. This week, Cruise announced it would recall 950 robotaxis after a pedestrian collision. In GM's third-quarter earnings update, the company said it had lost roughly $1.9 billion on Cruise through September of this year. The DMV suspension came a week after federal auto safety regulators announced they were investigating Cruise following pedestrian injuries. The probe, spearheaded by the National Highway Traffic Safety Administration, was prompted by multiple reports involving pedestrian injuries and Cruise vehicles in recent months, and it concerns an estimated 594 self-driving Cruise vehicles, according to the filing.

Persons: Kyle Vogt, Cruise Organizations: Cruise Automation Inc, Southwest, CNBC, Cruise, General Motors, California Department of Motor Vehicles, California DMV, DMV, National, Traffic Safety Administration Locations: Austin , Texas, San Francisco, California

☆ Cruise recalls all of its self driving cars to fix their programming
▼ + stars: | 2023-11-08 | by ( Manav Tanneeru | Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Cruise, General Motors’ self-driving vehicle subsidiary, has recalled all 950 of its autonomous vehicles for a software update. Late last month, Cruise paused all its public testing operations while it investigated the incident that led to the recall. GM had announced Monday that it was pausing production test versions of the Cruise Origin, a self driving vehicle GM and Cruise designed jointly with Honda. After striking the pedestrian, the Cruise AV attempted to pull off to side of the road to avoid causing an obstruction. Cruise doesn’t sell its self-driving vehicles so all the cars are owned by either Cruise or GM, which produces the heavily modified Chevrolet Bolt electric vehicles.

Persons: CNN — Cruise, Cruise, Aimee Ridella Organizations: CNN, Motors, GM, Honda, Cruise, California Department of Motor Vehicles, National, Traffic Safety Administration, NHTSA, Chevrolet

☆ GM's Cruise is recalling 950 robotaxis after pedestrian collision
▼ + stars: | 2023-11-08 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Cruise, the autonomous vehicle venture owned by General Motors , has issued a recall effecting 950 of its robotaxis following a pedestrian collision in San Francisco last month. The Oct. 2 collision triggered a federal probe. According to the Cruise filing with the NHTSA on Nov. 7, following the collision, Cruise found defects within its automated driving system software, specifically pertaining to its "Collision Detection Subsystem." This issue could occur after a collision with a pedestrian positioned low on the ground in the path of the AV." After Cruise lost its permits in California and faced a public backlash over safety concerns, the company also temporarily suspended production of its Cruise Origin driverless vans.

Persons: Cruise, Louise Zhang, Elon Musk, Quinn Emanuel Organizations: General Motors, National, Traffic, Administration, Google, Tesla, Cruise, GM Locations: San Francisco, California, Detroit

☆ GM to update Cruise software so self-driving cars stop if a pedestrian is pinned underneath
▼ + stars: | 2023-11-08 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

California later revoked the license for Cruise vehicles to operate without human drivers behind the wheel. In the crash, another vehicle with a person behind the wheel struck a pedestrian, sending the person into the path of a Cruise autonomous vehicle. The pedestrian was pinned under one of the Cruise vehicle's tires and was critically injured. NHTSA opened an investigation Oct. 16 into four reports that Cruise vehicles may not exercise proper caution around pedestrians. GM recently paused production of the Cruise Origin, a fully autonomous vehicle designed for Cruise to carry multiple passengers.

Persons: —, Cruise, Cruise's robotaxis Organizations: Motors, Cruise, Service, state's Department of Motor Vehicles, U.S . National, Traffic Safety Administration, NHTSA, AV, Department of Motor Vehicles, General Motors Co, Detroit, GM Locations: San Francisco, California, Cruise, Detroit

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