- 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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