Cruise founder and CEO Kyle Vogt has resigned from his purpose at the autonomous motor vehicle enterprise owned by General Motors, according to a corporation statement sent to CNBC on Sunday.
Jordan Vonderhaar | Bloomberg | Getty Photographs
Cruise CEO and co-founder Kyle Vogt has resigned from his position at the autonomous car or truck undertaking owned by Normal Motors, according to a organization statement sent to CNBC on Sunday.
Mo Elshenawy, who formerly served as Executive Vice President of Engineering at Cruise, will now provide as President and CTO for Cruise, the organization said.
The resignation follows a string of missteps by Cruise. As CNBC earlier noted, the organization lately issued a remember affecting 950 of its robotaxis following a pedestrian collision in San Francisco very last thirty day period.
Cruise experienced lost its permits to operate driverless motor vehicles in California without the need of a human security driver on board as a end result of that pedestrian collision.
According to its most the latest quarterly update, GM has misplaced about $1.9 billion on Cruise in between January and September, including $732 million in the 3rd quarter alone.
This is a acquiring tale. Remember to examine back again for updates
