General Motors (GM) PT Lowered to $41 at UBS

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Go back to General Motors (GM) PT Lowered to $41 at UBS

General Motors (GM) GM’s Cruise parks all driverless cars in U.S. amid safety concerns

October 27, 2023 8:44 AM EDT

General Motors (NYSE: GM) robotaxi business, Cruise has decided to suspend all driverless operations across the U.S. after California regulators deemed the vehicles unsafe for public operation and suspended the companys self-driving permit.

The most important thing for us right now is to take steps to rebuild public trust, Cruise said in an online post late Thursday.

Part of this involves taking a hard look... More

General Motors (GM) California DMV puts the brakes on GM's Cruise driverless cars over safety risk

October 25, 2023 11:12 AM EDT

California issued an order to General Motors' (NYSE: GM) Cruise division Tuesday, demanding the removal of its autonomous vehicles from state roads.

The state referred to the vehicles as a potential threat to public safety and accused the company of misrepresenting information about the technology's safety.

The Department of Motor Vehicles (DMV) in California declared the suspension of Cruise's permit for autonomous vehicle deployment and driverless testing, effectively halting the company's testing of the vehicles without safety... More