https://www.cnbc.com/amp/2023/12/15/cruise-looks-like-gm-latest-failed-bet-on-trendy-venture.html
6 replies (most recent on top)
I'm now worried that GM may do what Ford did (Latitude.ai). Yank the plug now on L4, and repurpose them to be L2 - meaning the current superscruise team is f*cked. The plan was to maybe integrate some of Cruise tech into SC now I'm thinking it'll be Cruise that'll commandeer GM's L2 program altogether.
$8 billion (that we know of) invested in Cruise so far...
Think about how badly the decision to force all employees to RTO with less than half the seating. It's a deliberate move to destroy morale and humiliate/inconvenience their own employees. It's almost mind-mindbogglingly bad. The road to bankruptcy is paved with bad decisions. I'm looking forward to seeing how many EV programs are cancelled in the coming months. The SLT can't earn bonuses if they lose tens of thousands per EV that rolls off the line.
And I love that for Mary!!! :)
Honda bailed out.
Who will buy in?
GM may need to liquidate it.
The important takeaway is that Cruise isn't failing because people reject the business model (they do but that's beside the point for now), it's failing because GM's technology doesn't work. It's hard to get good press for a product that mu---rs people.
Cruise is to Mary what the Metaverse is to Zuckerberg.
A weight around the neck of the company and it's leaders.
How much good money will go after failure? I predict a spin-off of Cruise in the coming year, with GM being a minority shareholder.
Jim Cramer destroyed Mary in that interview. Was I safe riding in a Cruise vehicle? Why did Kyle leave? Why did your China share go down by half