The cancellation by GM and Honda is the latest in a growing number of decisions by automakers to scale back or scrap previously announced EV plans.

California suspends Cruise's autonomous robotaxis

06:38am, Wednesday, 25'th Oct 2023
The state of California announced Tuesday that it is immediately suspending permits belonging to driverless taxi firm Cruise, which effectively halts the firm's autonomous-driving operations for the
For investors, it's a time to stick to the basics: Buy quality companies and don't pay too much.

General Motors Finds Itself in a Jam

05:30am, Wednesday, 25'th Oct 2023
The largest Detroit automaker is stuck between dwindling profit on gas guzzlers and uncertain prospects for electric and autonomous vehicles.
Tom Narayan of RBC Capital Markets says the issue of the UAW strike is "overblown" and shares why he is optimistic on the prospects for the stock.
Honda Motor is shelving plans to jointly develop affordable electric vehicles (EVs) with General Motors due to a changing business environment, Bloomberg News reported on Wednesday, citing an intervie
Driverless taxis, developed by General Motors Company (NYSE:GM) subsidiary Cruise, have lost the right to operate in California after a chaotic rollout onto the roads of San Francisco. Citing public s
The California Dept. of Motor Vehicles announced the suspension of autonomous taxi manufacturer Cruise's deployment and testing permits amid an investigation.

UAW strike expands to crucial GM plant

06:02pm, Tuesday, 24'th Oct 2023
CNBC's Phil LeBeau join 'Closing Bell' to discuss the UAW expanding its strike to another crucial GM plant, Stellantis laying of 525 workers due to strike, and how California halting driverless car se
The suspension is a major setback to GM's self-driving technology unit. The automaker reported it lost $723 million on Cruise during the third quarter.
A tough situation has just gotten tougher, it seems. Not only is the United Auto Workers (UAW) strike not likely to end anytime soon, but it's actually expanding.
Cruise, General Motors' self-driving vehicle subsidiary, just got its license suspended. The California Department of Motor Vehicles revoked Cruise's permits to test and operate fully driverless vehic
General Motors Co. (GM) pulled its full-year guidance in its third-quarter earnings report released Tuesday amid uncertainty surrounding the growing strike by the United Auto Workers (UAW) union.
The California DMV on Tuesday suspended driverless taxis from General Motors Co.'s GM, -1.64% Cruise from operating in San Francisco, citing safety concerns. The halt is effective immediately and ther
The United Auto Workers expanded its strike again Tuesday, targeting General Motors' largest assembly plant. The union has now hit each of the Big Three's most profitable facilities.
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