General Motors announced that it expects to save $1 billion annually by ending its Cruise robotaxi program, shifting its focus on personal vehicles. The company reported a $2.9 billion loss in Q4 2024 due to charges linked to this decision and restructuring efforts in China. Despite these losses, GM achieved a net income of $6 billion for the year, showing better overall performance. CFO Paul Jacobson stated that integrating Cruise employees into GM is part of their cost-saving strategy, aiming at efficiency in autonomous driving investments.
General Motors expects to save up to $1 billion annually by ending its Cruise robotaxi development program, signifying a strategic shift in its autonomous driving strategy.
Despite taking a $2.9 billion loss in the fourth quarter of 2024, GM's full-year results show net income of $6 billion, showcasing underlying profitability.
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