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Microsoft will take an $800M hit over Cruise robotaxi shutdown
GM's decision to shut down its Cruise robotaxi program continues to ripple through the market, extending to the self-driving car company's minority
GM previously brought on a number of external investors including Microsoft, Walmart, Softbank, T.Rowe Price and Honda as the company sought to raise the billions in capital needed to bring robotaxis to the public. The two companies also struck a long-term strategic partnership that included plans for Cruise to use Azure, Microsoft’s cloud and edge computing platform, for its autonomous vehicle ride-hailing service. Minority investor Honda said Wednesday it will stop funding a joint venture with General Motors and Cruise to launch a robotaxi service in Japan.
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