Cruise and Uber Partnership: Next year, Cruise will start selling its self-driving cars on Uber's website for getting rides. With this partnership, Uber users can choose rides in Cruise's self-driving cars.
Stock Movements: As soon as the news came out, shares of General Motors went up by 1.3% and shares of Uber went down by 1.5%.
Uber's Current Driverless Services: Uber has already been working with Waymo, another top company that provides self-driving cab services, to offer rides in Phoenix without a driver.
Cruise’s Road to Recovery: After a major accident last year, Cruise stopped doing business. However, it is now trying its cars again with safety drivers to show that they are safe.
Vehicle Recall: Cruise recently called back almost 1,200 self-driving cars because they had problems with their brakes. This ended a probe by the government.
Industry Challenges: Commercializing self-driving cars has been slowed down by problems like complicated technology, high costs, and close scrutiny by regulators.
Tesla's Upcoming Announcement: Elon Musk, the CEO of Tesla, is likely to announce new plans for the company's robotaxi in October.
Uber's Position in the AV Market: Uber thinks it can help self-driving car companies like Cruise and Waymo make the most of their technology as they grow.
Because of these agreements, Uber's self-driving rides have grown a lot.
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