TECH - 'Told Them So:' Elon Musk Mocks Big-Ticket Investor Who Chose Cruise Over Tesla After GM's Self-Driving Unit Plans $1B Expense Cut | Benzinga
Detroit-based automaker General Motors Co (NYSE:GM) said on Tuesday that the company will cut expenses by about $1 billion at its self-driving unit Cruise in 2024, while also reiterating hopes for Cruise autonomous vehicles returning to the road soon. Rival EV maker Tesla Inc‘s CEO Elon Musk responded to the latest update from the company by terming investors who chose Cruise over Tesla as “suicidal.”
What Happened: GM on Tuesday reported an operating loss of $3.48 billion at Cruise in 2023, as compared to a loss of $3.24 billion in 2022.
The company said that it will significantly cut spending on Cruise this year while also investing in the people developing the self-driving software, specialized hardware, and other AI capabilities.
“We are committed to Cruise. When we look at the technology, ...