09:18 AM EDT, 07/23/2024 (MT Newswires) -- General Motors' ( GM ) Cruise self-driving unit will shift its development focus to the next-generation Chevrolet Bolt, from the Origin," Chief Executive Mary Barra said in a letter to shareholders Tuesday.

The autonomous Origin, which lacks manual controls such as a steering wheel or foot pedals, was facing "regulatory uncertainty," Barra said

In addition, Barra said that the Bolt's per-unit costs will be "much lower."

GM shares were 1.1% lower in premarket trading.

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