7 ms·
Cruise 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
by dilyevsky 2y ago
Cruise 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...