Race to Robotaxis: Industry Faces Hurdles

24 Jul 2024 CW Team

Tesla CEO Elon Musk highlighted progress in the company's Full Self Driving (FSD) and robotaxi initiatives, underscoring the electric car leader's strides in the sector. Meanwhile, Alphabet CFO Ruth Porat announced a $5 billion investment in Waymo, its self-driving subsidiary, to accelerate development over the coming years.

Waymo has recently begun testing a new robotaxi model in San Francisco, designed by Zeekr, a Chinese EV brand under Geely. However, General Motors (GM) faced setbacks with its Cruise Origin project. The company halted production of the autonomous vehicle?featuring subway-like doors and campfire seating?at a Detroit plant, incurring a $583 million charge.

Musk criticized GM's handling of the Cruise Origin, attributing the production halt to technology issues rather than regulatory obstacles. GM responded sharply, labeling Musk's comments as "blatantly false."

Cruise, which has faced multiple investigations"including by the NHTSA, Justice Department, and SEC" has come under intense scrutiny following an October accident involving a robotaxi that struck and dragged a pedestrian. In response, California revoked Cruise's driverless vehicle permit, leading to significant criticism.

Kyle Vogt, Cruise's co-founder who resigned as CEO in November, criticized GM's management, drawing parallels to the company's previous failure to capitalize on its early electric vehicle lead. Despite these challenges, GM's CEO Mary Barra remains optimistic, noting resumed robotaxi testing in three cities and the recent hiring of a new CEO. Barra has projected that Cruise could generate $50 billion in annual revenue by 2030, despite the division's $8 billion losses since 2017 and recent spending cuts.

The autonomous driving and robotaxi race continues to evolve, with significant investments and setbacks shaping the future of this transformative technology.

According to analysts and industry experts, the quest for autonomous driving technology and robotaxis is proving to be a challenging and costly journey. Despite significant advancements, the path forward is obstructed by engineering challenges and regulatory scrutiny. Tesla CEO Elon Musk highlighted progress in the company's Full Self Driving (FSD) and robotaxi initiatives, underscoring the electric car leader's strides in the sector. Meanwhile, Alphabet CFO Ruth Porat announced a $5 billion investment in Waymo, its self-driving subsidiary, to accelerate development over the coming years. Waymo has recently begun testing a new robotaxi model in San Francisco, designed by Zeekr, a Chinese EV brand under Geely. However, General Motors (GM) faced setbacks with its Cruise Origin project. The company halted production of the autonomous vehicle?featuring subway-like doors and campfire seating?at a Detroit plant, incurring a $583 million charge. Musk criticized GM's handling of the Cruise Origin, attributing the production halt to technology issues rather than regulatory obstacles. GM responded sharply, labeling Musk's comments as blatantly false. Cruise, which has faced multiple investigationsincluding by the NHTSA, Justice Department, and SEC has come under intense scrutiny following an October accident involving a robotaxi that struck and dragged a pedestrian. In response, California revoked Cruise's driverless vehicle permit, leading to significant criticism. Kyle Vogt, Cruise's co-founder who resigned as CEO in November, criticized GM's management, drawing parallels to the company's previous failure to capitalize on its early electric vehicle lead. Despite these challenges, GM's CEO Mary Barra remains optimistic, noting resumed robotaxi testing in three cities and the recent hiring of a new CEO. Barra has projected that Cruise could generate $50 billion in annual revenue by 2030, despite the division's $8 billion losses since 2017 and recent spending cuts. The autonomous driving and robotaxi race continues to evolve, with significant investments and setbacks shaping the future of this transformative technology.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..