Further proof that General Motors is run the finance types, not car guys.
Wonder if they'd sell Cruise back to the founders for say a buck? Sure Cruise could then cut a deal with another auto maker. Maybe even get financing from one?
GM is is making 12 billion a year of profit though. It seems like madness to cut Cruise unless there is no hope of it ever working or making a profit… The only U.S. competitor besides Waymo that’s seemingly remotely in the ballpark is Zoox.
Oh believe me i agree. As a former Cruise employee (i left in 2019) it’s incredible to me how they went almost all the way only to get it gutted like that
GM’s current annual expenditure on Cruise amounted to about $2 billion, and the restructuring would cut that by more than half, CFO Paul Jacobson said.
Wonder if they'd sell Cruise back to the founders for say a buck? Sure Cruise could then cut a deal with another auto maker. Maybe even get financing from one?