GM's Driverless-Car Unit Cruise Recalls Some Robotaxis Over Software Glitch - General Motors (NYSE:GM)

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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