GM is not Cruise's only prime investor. Cruise recently received an influx of capital from the SoftBank Vision Fund, which already invested $900 million in the company.

GM, which owns about 90% of Cruise, has agreements with other shareholders that will raise its ownership to more than 97% and will pursue the acquisition of the remaining shares. 3.

During an investor call Tuesday, CFO Paul Jacobson said GM, which owns about 90% of Cruise, has agreements with other minor stakeholders to sell their shares and raise GM's ownership to more than 97%.

So far, Cruise has not made GM any profit. In the first quarter of this year, Cruise incurred losses $325 million, a figure that is exclusive of the $1.1 billion in compensation expenses per ...

GM didn’t name a replacement for Vogt, instead appointing co-presidents. Mo Elshenawy, who is executive vice president of engineering at Cruise, is now CTO and co-president.

During an investor call Tuesday, CFO Paul Jacobson said GM, which owns about 90% of Cruise, has agreements with other minor stakeholders to sell their shares and raise GM's ownership to more than 97%.

GM CFO Paul Jacobson added that launching and operating a robotaxi service would take a significant amount of capital, beyond the $10 billion or so GM already spent on Cruise.

GM CFO Paul Jacobson has said the company expects to spend $1.7 billion on Cruise operations this year, down slightly from GM’s spend on Cruise in previous years of around $2 billion.

After setbacks at Cruise, GM’s self-driving vehicle arm, the automaker has decided to wait for the new Chevrolet Bolt to launch in 2025 and use the small electric crossover as its robotaxi instead.

GM may be canceling Ultra Cruise, the automaker's next-gen semi-autonomous driver assistance system. Ultra Cruise was originally slated to launch in 2023.