4.2 • 5.3K Ratings
🗓️ 17 December 2024
⏱️ 18 minutes
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| 0:00.0 | In the transportation industry, there's a dream some people have, robotaxies, self-driving cars that people can just call up, and it'll take them wherever they need to go. |
| 0:15.9 | Yeah, it's been a big aspiration, and it has huge implications for the traditional auto industry. |
| 0:25.9 | Our colleague Chris Ottz covers the auto industry. |
| 0:29.3 | And he says that maybe someday, if this technology gets good enough, people won't even need |
| 0:34.1 | to own cars anymore. |
| 0:35.7 | If you think about it, your personal vehicle is idle the vast, vast majority of the time. |
| 0:42.3 | If you have reliable self-driving cars, that changes the entire paradigm in terms of what the auto industry is. |
| 0:52.3 | You could have cars that are owned centrally by a fleet |
| 0:57.1 | instead of people owning personal vehicles. |
| 1:01.5 | So to move into a world where you have on-demand transportation |
| 1:07.4 | that could totally upend transportation as we know it. |
| 1:12.9 | One of the companies that's been trying to do that is called Cruise. |
| 1:16.8 | It's owned by General Motors. |
| 1:19.0 | Cruise is an autonomous vehicle startup that General Motors bought and has invested heavily |
| 1:26.6 | in over the last decade billions of dollars. |
| 1:29.3 | General Motors, you know, only a few years ago, predicted that Cruz would generate $50 billion a year in revenue by the end of the decade. |
| 1:41.6 | And GM had hoped that Cruz was a big part of its future. |
| 1:48.4 | But last week, GM said that after investing $10 billion over the last decade, it's killing |
| 1:54.4 | its Robotaxie program. |
| 1:59.9 | Cruise, the autonomous vehicle company, they're pulling their cars from the streets, General Motors, which owns Cruz, says it's moving away from the robo-taxy business. |
| 2:09.6 | The whole question for GM is, what is the future? Where is the growth? |
| 2:15.6 | Cruise was a big part of the moonshot future growth story for General Motors. |
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