Cruise hopes ramping its robotaxi service will U-turn its cash burn

Cruise, the General Motors subsidiary dedicated to commercializing autonomous vehicles, saw a jump in expenses during the second quarter as the company launched its first commercial robotaxi service in San Francisco.
Cruise’s expenses hit around $550 million compared to $332 million during the same quarter of last year. Operating losses in the second quarter topped $605 million, up from $363 million last year. The increase in cost can be attributed to a headcount increase from revving up Cruise’s robotaxi service, as well as a change in the compensation expense, said CEO Kyle Vogt.

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