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...GM’s quarterly investments in Cruise run to about $700mn. Its driverless vehicles have been operating in certain US cities including San Francisco as a taxi service....
...The rollback comes just three months after the company triumphed in winning permission to expand its service. It is working with Honda to launch driverless cars in Tokyo by 2026....
...In the US, Cruise has been racing against Tesla and Waymo, part of Alphabet, to develop robotaxi services, and parent GM has set an ambitious revenue target of $1bn by 2025....
...company less than three months after it won the right to operate a full robotaxi service in San Francisco....
...Cruise and its rival Alphabet-owned Waymo were granted permission by the California Public Utilities Commission in August to run driverless taxi services throughout the city....
...Driverless cars are being tested in a handful of other US cities and Alphabet’s Waymo has a commercial service in part of Phoenix and surrounding suburbs....
...Rates charged by General Motors’ Cruise robotaxi service in San Francisco are comparable to rideshare services from the likes of Uber....
...Cruise can charge but only at night in certain parts of the city. A vote to consider Waymo’s request to collect fares and Cruise’s application to run a daytime service has been postponed to mid-July....
...Such reservations made it difficult for the CPUC to decide if Waymo and Cruise could operate commercial services, 24/7, with paying passengers....
...In a GM earnings call on Tuesday, Cruise CEO Kyle Vogt said the driverless tech industry was “seeing increased separation between the company’s operating commercial driverless services and those that are...
...Waymo is planning to expand its robotaxi service to Los Angeles and Cruise hopes to get regulatory approval for robotaxis without pedals or steering wheels. It has been a slow and expensive road....
...Cruise, General Motors’ self-driving unit, started its fledgling robotaxi service here a few months ago. Interest is high and the waiting list is long. On Tuesday, I bagged a ride....
...Investment bank and financial services company UBS has said Cruise is a “key” reason why it has a buy rating on the shares of GM, whose own valuation is just above $50bn....
...Scaramucci was with his family on a Disney cruise that had docked in the islands....
...SCOTUS The Supreme Court will hear oral arguments in the 303 Creative LLC vs Elenis case....
...Mr Krafcik did not say when and where its ride-sharing service will launch next....
...Smart reads Anchors aweigh Cruise operators have spent millions “future-proofing” their fleets with new technology and medical resources after the coronavirus pandemic ravaged the industry....
...Last summer, Waymo and GM-owned Cruise obtained permits to “receive compensation for autonomous services offered to the public”....
...Cruise is also worth more than $30bn and last week received the first permit from California regulators to operate a driverless passenger service in the state....
...Still, under Krafcik, Waymo has remained ahead of rivals, including General Motors-backed Cruise, Aurora and Argo AI....
...One year after surging coronavirus cases forced Carnival’s Diamond Princess cruise ship into quarantine, the world’s largest cruise operator is still to resume its operations....
...Black says he paid Epstein millions of dollars annually for tax advice and other professional services....
...Among the players jostling for dominance with Waymo is General Motors, which has had commitments of more than $6bn for its Cruise division....
...Cruise was valued at $19bn last year — over a third of GM's stock market capitalisation — but it has yet to deliver a viable service or show how its technology would scale or be profitable....
...to launch full robot taxi services....
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