General Motors has announced that it is shutting down its autonomous taxi initiative, prompting Microsoft to take an $800 million charge due to its stake in the venture. The move comes as GM cited high development costs and a lack of progress in building out a fleet of vehicles for the service. This decision marks another setback for GM’s efforts to develop autonomous technology, leaving Microsoft with significant financial implications.
Source: https://www.bloomberg.com/news/articles/2024-12-11/microsoft-sees-800-million-charge-on-stake-in-gm-s-cruise