GM will not fund Cruise’s robotaxi growth
Basic Motors Co. has introduced that it’s going to not fund Cruise LLC’s robotaxi deployment work. It cited lengthy growth instances, excessive prices, and an more and more aggressive robotaxi market as the explanations behind its choice.
Since buying the self-driving startup in 2016, GM has poured greater than $10 billion of funding into Cruise. In June, for instance, GM invested one other $850 million into the self-driving startup, regardless of it shedding $3.48 billion in 2023.
GM presently owns round 90% of Cruise and has agreements with different shareholders that may elevate its possession to 97%. It plans to amass the remaining shares so it might restructure and refocus Cruise’s operations.
Common Robots picks China for first abroad manufacturing facility
Common Robots A/S is seeking to considerably develop its presence in China, the world’s largest marketplace for industrial robots. The world’s main developer of collaborative robotic arms can also be introducing two robots that might be out there completely to the Chinese language market.
UR informed The Robotic Report that the UR7e has a 7.5 kg (16.5 lb.) payload and a attain of 850 mm (33.4 in.), whereas the UR12e has a 12.5kg (27.5 lb.) payload and a 1,300 mm (51.1 in.) attain.
UR mentioned the specification of those fashions has been “particularly chosen to satisfy the wants of China’s automotive, digital, and metals and equipment industries, alongside others.”
Embodied in monetary hassle
Reportedly, essential financing didn’t come by way of for Embodied, the creator of the Moxie social robotic, forcing the corporate to close down. This information got here from numerous social media posts by present and prior workers.
The Robotic Report reached out to Embodied for remark however acquired no response as of press time. The corporate has posted a FAQ doc on its web site.
