GM's Driverless-Car Unit Cruise Recalls Some Robotaxis Over Software Glitch

GM's Driverless-Car Unit Cruise Recalls Some Robotaxis Over Software Glitch
  • General Motors GM driverless-car unit Cruise LLC recalled 80 robotaxis after a crash earlier this year resulted in minor injuries, the Wall Street Journal reports.
  • Cruise’s recall follows a June 3 crash involving one of its driverless cars struck by an oncoming vehicle in a San Francisco intersection.
  • The National Highway Traffic Safety Administration disclosed that the recall campaign concerned vehicles with older software that allows them to operate without a driver at the wheel. 
  • When those vehicles made an unprotected left turn, in some circumstances, that software might not have correctly predicted the direction of oncoming cars.
  • Cruise used the software in 80 company-owned cars operated by Cruise in a robotaxi service in San Francisco that was not made available for sale. 
  • Cruise issued a public recall at NHTSA’s suggestion. 
  • GM saw the driverless-taxi service through Cruise will be a crucial growth driver in coming years with $50 billion in revenue by the end of the decade and prioritized investments into self-driving cars and electric vehicles.
  • Cruise offered tough competition to Alphabet Inc GOOG GOOGL Google in the race to secure the first robotaxi permit for San Francisco.
  • The global robotaxi market, valued at $1.23 billion in 2021, will likely grow from $1.71 billion in 2022 to $108.0 billion by 2029, exhibiting a CAGR of 80.8%.
  • Price Action: GM shares closed higher by 0.92% at $38.56 on Thursday.

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