General Motors' self-driving robotaxi service Cruise has ceased operations nationwide after California regulators revoked its license due to public safety concerns. GM has faced substantial losses with Cruise accounting for $732 million of GM's third-quarter losses alone.
Edge Case CEO Michael Wagner states that while Cruise has faced setbacks, the broader autonomous driving vehicle industry has been steadily advancing. He believes Cruise's suspension "is a symptom of poor safety culture at Cruise specifically" rather than the whole sector. However, Wagner highlighted this might signify a turning point for autonomous vehicles, where companies will either experience significant advancements or face collective failures.
"Safety culture and safety processes are key," Wagner tells Yahoo Finance, adding: "We have to be open about what's going on when these kinds of accidents do occur, because they will occur."
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