A retreat in the development of autonomous vehicles was the major news item decelerating the stock of rideshare incumbent Uber Technologies (NYSE: UBER) in December. In its official press release announcing this decision, General Motors said it was due to “the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market.” The move is part of a broader realignment, which will see the Cruise and General Motors technical divisions combining into a single entity.
This article was originally published here.
