Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries GM fires 9 execs amid Cruise robotaxi safety probe By: FOX Business December 14, 2023 at 10:21 AM EST General Motors' self-driving vehicle unit Cruise dismissed nine executives in December amid an ongoing safety investigation after a woman was struck and dragged by a Cruise robotaxi. General Motors has let go of nine executives working with its Cruise self-driving vehicle unit amid an ongoing safety investigation, including Chief Operating Officer Gil West, FOX Business has confirmed. The dismissals come weeks after GM shut down Cruise's robotaxi operations for a safety probe after a woman was struck and dragged by a Cruise vehicle in San Francisco on Oct. 2.Cruise has faced intense scrutiny from California regulators since the accident. CEO Kyle Vogt and co-founder Dan Kan both resigned in recent weeks, and the company is reportedly preparing for layoffs later this month. "Following an initial analysis of the October 2 incident and Cruise's response to it, nine individuals departed Cruise," a company memo obtained by FOX Business states. The memo was first reported by Reuters. GM'S CRUISE CEO KYLE VOGT RESIGNS FROM COMPANY"We are committed to full transparency and are focused on rebuilding trust and operating with the highest standards when it comes to safety, integrity, and accountability," the memo said. "As a result, we believe that new leadership is necessary to achieve these goals."Reuters reported that Cruise Chief Legal and Policy Officer Jeff Bleich and Senior Vice President of Government Affairs David Estrada were among those who left the company. "The personnel decisions made today are a necessary step for Cruise to move forward as it focuses on accountability, trust and transparency," GM said in a statement. GM TO HALT PRODUCTION OF CRUISE DRIVERLESS VAN The safety concerns are a major setback for Cruise, which had announced plans to expand its autonomous taxi service to more U.S. cities. The California DMV hit Cruise with an indefinite suspension after the accident, covering both its testing and deployment permits for robotaxis. The National Highway Traffic Safety Administration has also launched a separate safety probe of the autonomous driving system in Cruise’s vehicles in December following a pair of rear-end crashes. The agency said the vehicles "may engage in inappropriately hard braking or become immobilized." Law firm Quinn Emmanuel is leading the safety investigation, GM has said.CRUISE PAUSES DRIVERLESS VEHICLE OPERATIONS ACROSS US DURING SAFETY INVESTIGATION Cruise, in February 2022, petitioned U.S. regulators seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without human controls like steering wheels.The company announced two weeks ago that it plans to stop production of its Cruise Origin van, with a GM spokesperson telling Reuters that "we are finishing production on a small number of pre-commercial vehicles and after that, plan to temporarily pause production." The Cruise Origin vehicle, built in Detroit, was jointly developed by GM, Cruise and Honda.CLICK HERE TO READ MORE ON FOX BUSINESS Cruise could face $1.5 million in fines and additional sanctions over its failure to disclose details surrounding the accident, a California agency has said.Mo Elshenawy took over as Cruise's president last month and told an all-hands meeting earlier in December that the autonomous vehicle unit has hit an "all time low." Fox Business' Greg Norman, Eric Revell and Reuters contributed to this report. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
GM fires 9 execs amid Cruise robotaxi safety probe By: FOX Business December 14, 2023 at 10:21 AM EST General Motors' self-driving vehicle unit Cruise dismissed nine executives in December amid an ongoing safety investigation after a woman was struck and dragged by a Cruise robotaxi. General Motors has let go of nine executives working with its Cruise self-driving vehicle unit amid an ongoing safety investigation, including Chief Operating Officer Gil West, FOX Business has confirmed. The dismissals come weeks after GM shut down Cruise's robotaxi operations for a safety probe after a woman was struck and dragged by a Cruise vehicle in San Francisco on Oct. 2.Cruise has faced intense scrutiny from California regulators since the accident. CEO Kyle Vogt and co-founder Dan Kan both resigned in recent weeks, and the company is reportedly preparing for layoffs later this month. "Following an initial analysis of the October 2 incident and Cruise's response to it, nine individuals departed Cruise," a company memo obtained by FOX Business states. The memo was first reported by Reuters. GM'S CRUISE CEO KYLE VOGT RESIGNS FROM COMPANY"We are committed to full transparency and are focused on rebuilding trust and operating with the highest standards when it comes to safety, integrity, and accountability," the memo said. "As a result, we believe that new leadership is necessary to achieve these goals."Reuters reported that Cruise Chief Legal and Policy Officer Jeff Bleich and Senior Vice President of Government Affairs David Estrada were among those who left the company. "The personnel decisions made today are a necessary step for Cruise to move forward as it focuses on accountability, trust and transparency," GM said in a statement. GM TO HALT PRODUCTION OF CRUISE DRIVERLESS VAN The safety concerns are a major setback for Cruise, which had announced plans to expand its autonomous taxi service to more U.S. cities. The California DMV hit Cruise with an indefinite suspension after the accident, covering both its testing and deployment permits for robotaxis. The National Highway Traffic Safety Administration has also launched a separate safety probe of the autonomous driving system in Cruise’s vehicles in December following a pair of rear-end crashes. The agency said the vehicles "may engage in inappropriately hard braking or become immobilized." Law firm Quinn Emmanuel is leading the safety investigation, GM has said.CRUISE PAUSES DRIVERLESS VEHICLE OPERATIONS ACROSS US DURING SAFETY INVESTIGATION Cruise, in February 2022, petitioned U.S. regulators seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without human controls like steering wheels.The company announced two weeks ago that it plans to stop production of its Cruise Origin van, with a GM spokesperson telling Reuters that "we are finishing production on a small number of pre-commercial vehicles and after that, plan to temporarily pause production." The Cruise Origin vehicle, built in Detroit, was jointly developed by GM, Cruise and Honda.CLICK HERE TO READ MORE ON FOX BUSINESS Cruise could face $1.5 million in fines and additional sanctions over its failure to disclose details surrounding the accident, a California agency has said.Mo Elshenawy took over as Cruise's president last month and told an all-hands meeting earlier in December that the autonomous vehicle unit has hit an "all time low." Fox Business' Greg Norman, Eric Revell and Reuters contributed to this report.