Mary Barra, the CEO of GM, revealed in a letter to shareholders that Cruise, the autonomous vehicle company under the GM umbrella, is coming back into service and will be changing the model of cars used from the original Cruise Origin to the new electric Chevrolet Bolt model, which has not yet been officially unveiled. Barra stated that this model change will address the issues identified by Cruise, as the problems stemmed from the design of the Origin model. Additionally, transitioning to the Bolt will help reduce costs per unit, as it utilizes GM’s high production capacity.
Cruise faced significant challenges in 2023 after an accident led to the suspension of their license, the resignation of the CEO and co-founders, the layoff of 900 employees, and the appointment of an external CEO to navigate through the crisis.
Source: GM
TLDR: Mary Barra announces Cruise’s return to service with a model change to the electric Chevrolet Bolt, addressing previous issues and leveraging GM’s production capacity. Cruise faced hardships in 2023 but is working towards recovery under new leadership.
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