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GM takes full control of Cruise in autonomous personal vehicle shift

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General Motors said on Tuesday it had completed the full acquisition of its Cruise business to focus on developing the autonomous technology for personal vehicles not robotaxis.
General Motors (GM) has announced that it will acquire the remaining 8% stake in its autonomous vehicle subsidiary, Cruise, from Honda, thereby gaining full ownership. This move, effective from February 4, 2025, follows Honda's decision to exit its investment in Cruise to focus on its own autonomous driving technology. The acquisition will not involve any cash payment from GM to Honda, as the shares were already accounted for in the initial investment terms. This strategic decision comes as Cruise, which has been testing its robotaxis in San Francisco, aims to expand its operations and technology development. The full ownership by GM is expected to streamline decision-making and potentially accelerate the development and deployment of Cruise's autonomous vehicle technology.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/general-motors-acquires-full-ownership-cruise-autonomous-business-2025-02-04/ ]