GM to cut spending on Cruise driverless vehicles by ‘hundreds of millions of dollars’

GM is massively slashing spending on its self-driving vehicle subsidiary Cruise after a string of debilitating setbacks, according to a conference call by company executives transcribed by TechCrunch. GM Chair and CEO Mary Barra said that operations would resume in some capacity, but that any plans for Cruise moving forward would be more “deliberate.”

To that end, the cuts will amount to hundreds of millions of dollars in the next year. This is expected to result in widespread layoffs …

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