Cruise continues to burn GM’s cash as robotaxis expand to daylight hours
by Andrew J. Hawkins from The Verge - All Posts on (#6B4RT)
Image: Cruise Cruise, the autonomous vehicle division of General Motors, is now operating a small" fleet of driverless robotaxis in San Francisco during daylight hours for the first time. The news comes as Cruise continues to operate in the red, losing $561 million in the first quarter of 2023.
The company earned just $30 million in revenue for GM, though most of that money comes from interest and other non-operating sources. Cruise, which operates robotaxis in San Francisco, Phoenix, and Austin, says it remains on track to hit $1 billion in revenue by 2025 and $50 billion by 2030.
Cruise CEO Kyle Vogt said the company expanded its driverless fleet size by 86 percent, from 130 to 242 concurrently operating AVs." The vehicles have since passed the...