GM Robo-taxi Cruise's CEO Kyle Vogt Resigns

RTTNews | 619 days ago
GM Robo-taxi Cruise's CEO Kyle Vogt Resigns

(RTTNews) - Kyle Vogt, CEO and Co-Founder of Cruise LLC, the autonomous vehicle company owned by General Motors, has resigned from his role amid an ongoing safety review of its U.S. fleet, reports said citing an email to the staff.

Following a pedestrian crash in San Francisco on October 2, the state of California had suspended the firm's license to operate driverless cars. As of October 26, Cruise's driverless operations remain paused in all markets.

Reuters quoted Vogt's email as saying, "I have resigned from my position… As CEO, I take responsibility for the situation Cruise is in today. There are no excuses, and there is no sugar coating for what has happened. We need to double down on safety, transparency, and community engagement."

Vogt, 38, who founded Cruise in 2013, had informed the board of his decision after apologizing to staff for the company's problems.

Following the pedestrian crash, Cruise had to pull all its vehicles from testing in the country and grounded all its driverless operations to conduct a safety review. In early November, Cruise recalled 950 of its driverless cars across the US. According to the National Highway Traffic Safety Administration or NHTSA, the collision detection subsystem of the Cruise's automated driving systems software may respond improperly after a crash.

In a blog post last week, Cruise had stated that its Board took further steps to enhance safety and transparency. The board also named Craig Glidden, GM's executive vice president of Legal and Policy and Cruise board member, to the role of chief administrative officer for Cruise.

Following the recent safety incidents, Cruise had said that it would hire a permanent Chief Safety Officer and retain a third-party safety expert in the coming weeks to perform a full assessment of Cruise's safety operations and culture.

To conduct a technical root-cause analysis of the October 2 incident, Cruise previously hired an independent, third-party engineering consulting firm, Exponent.

Cruise recently said it would continue to operate its vehicles in closed-course training environments and maintain an active simulation program to stay focused on advancing AV technology.

The latest development happened, as Cruise was on ambitious plans to expand to more cities, offering fully autonomous taxi rides.

In mid-October, GM and Cruise announced a Memorandum of Understanding with Japanese auto major Honda Motor Co., Ltd. to form a joint venture to begin a driverless ride-hail service in Japan in early 2026.

read more
GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

Automajor General Motors Co. on Tuesday maintained its fiscal 2025 earnings outlook, after reporting weak profit and revenues in its second quarter. However, adjusted earnings and top line beat market estimates. In the pre-market activity on the NYSE, General Motors shares were losing around 3.7 percent.
RTTNews | 9 days ago
GM Raises FY24 EPS Forecast As Q3 Beats Market

GM Raises FY24 EPS Forecast As Q3 Beats Market

Automajor General Motors Co. on Tuesday raised its fiscal 2024 adjusted earnings view in line or above market estimates, after reporting higher third-quarter earnings per share and sales, also above the Street. Net earnings for the quarter, meanwhile, edged down. In pre-market activity on the NYSE, GM shares were gaining around 2 percent.
RTTNews | 282 days ago
GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

Auto major General Motors has signed a deal with South Korean EV battery maker Samsung SDI to establish a joint venture to build a $3.5 billion plant to supply electric vehicle or EV batteries in the United States. The new battery cell manufacturing plant with an annual production capacity of 27GWh initially, is targeting mass production in 2027.
RTTNews | 337 days ago
Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber Technologies, Inc. and Cruise LLC, the autonomous vehicle company owned by General Motors Co., are joining to offer Cruise autonomous vehicles through the Uber platform. The companies, which are revolutionizing transportation, agreed on a multiyear strategic partnership that will be launched next year. Under the deal, a number of Chevy Bolt-based autonomous vehicles will be offered for...
RTTNews | 342 days ago
GM To Cut More Than 1,000 Software Jobs

GM To Cut More Than 1,000 Software Jobs

Auto major General Motors is laying off more than 1,000 salaried employees in its software and services division across the world, mostly in the U.S., with a view to streamlining its operations, reports said. In the proposed layoffs of software engineers, more than 600 will be at GM's tech campus in Michigan. The job cuts represent about 1.3 percent of GM's global salaried workforce...
RTTNews | 345 days ago
GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips

GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips

Shares of General Motors Co. were losing more than 6 percent in the early morning trading on the NYSE after the automajor reported Tuesday weak sales volume in its second quarter, mainly in China, and trimmed its fiscal 2024 earnings forecast on a reported basis. However, the company raised its annual adjusted earnings view after reporting higher second-quarter earnings and revenues above market e
RTTNews | 373 days ago