General Motors exits robotaxi market due to competition, aiming to save $1 billion annually.

From Nasdaq: 2024-12-12 02:00:00

General Motors (GM) exits the robotaxi market due to intense competition and high capital demands. They aim to save $1 billion annually through restructuring efforts. The global robotaxi market is projected to reach $45.7 billion by 2030, with North America accounting for $13.3 billion. Waymo leads the U.S. robotaxi space, with Tesla gearing up to challenge its dominance. Amazon’s Zoox, Mobileye, Volkswagen, and Baidu are also making strides in the robotaxi industry. The robotaxi market is evolving rapidly, with Waymo and Tesla at the forefront of the competition.

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