04:04 AM EST, 12/11/2024 (MT Newswires) -- General Motors ( GM ) said Tuesday it will stop the development of its Cruise robotaxi program.

The automaker said the decision reflects "the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market."

The company plans to combine its majority-owned Cruise and GM technical teams "into a single effort to advance autonomous and assisted driving," it said.

General Motors ( GM ) will work to restructure Cruise's operations and expects the revamp to reduce spending by over $1 billion annually after the plan's expected completion in H1 2025, the company said.