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Honda cuts funding to robotaxi venture with Cruise and GM in Japan

Honda Motor Co. will stop funding a joint venture with General Motors and Cruise to launch a robotaxi service in Japan, now that GM has pulled the plug on

GM said Tuesday it would cease funding Cruise and instead absorb the company and combine it with its own efforts to develop personal autonomous vehicles. While GM owns 90% of Cruise, Honda holds a small minority stake alongside other investors like T. Rowe Price and Microsoft. A few days later, Cruise lost its permits to operate in California and grounded its U.S. fleet after leadership mishandled communications of a safety incident with regulators.

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