4 ms·
Further proof that General Motors is run the finance types, not car guys. Wonder if they'd sell Cruise back to the founders for say a buck? Sure Cruise could
by rmason 2y ago
Further proof that General Motors is run the finance types, not car guys.
Wonder if they'd sell Cruise back to the founders for say a buck? Sure Cruise could then cut a deal with another auto maker. Maybe even get financing from one?
- dilyevsky 2y agoCruise burn rate was to the tune of 1B a year as reported by GM. Needs to be someone with very deep pockets to put it mildly
- cameldrv 2y agoGM is is making 12 billion a year of profit though. It seems like madness to cut Cruise unless there is no hope of it ever working or making a profit… The only U.S. competitor besides Waymo that’s seemingly remotely in the ballpark is Zoox.
- dilyevsky 2y agoOh believe me i agree. As a former Cruise employee (i left in 2019) it’s incredible to me how they went almost all the way only to get it gutted like that
- whiplash451 2y ago"Almost all the way" is fairly far fetched when taking a candid look at the landscape for Cruise.
- jrpt 2y agoEven Waymo has external investors. It’s not all funded by Alphabet.
- peanuty1 2y agoGM’s current annual expenditure on Cruise amounted to about $2 billion, and the restructuring would cut that by more than half, CFO Paul Jacobson said. https://www.cnbc.com/2024/12/10/gm-halts-funding-of-robotaxi-development-by-cruise.html https://www.cnbc.com/2024/12/10/gm-halts-funding-of-robotaxi...
- nitwit005 2y agoSurely the car guys are actually fans of driving?
- oldpersonintx 2y ago[dead]