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Cruise lost $435 million this quarter, even with its robotaxis on hiatus
Cruise is still losing money, just not as much as before.
It’s an instructive moment to check in with Cruise, because the company has been on hiatus since October 27, 2023, weeks after one of its driverless vehicles in San Francisco struck and then dragged a pedestrian over 20 feet, severely injuring her. In 2022, she took the stage at the annual Consumer Electronics Show and boldly declared that GM would sell fully autonomous vehicles to regular people by the middle of the decade. And in an earnings call Tuesday, Barra said that GM would have news to share in the days to come about Cruise’s “funding model” — implying that there would be partners brought on to help defray the cost of operating a fleet of driverless cars.
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