Things Just Went From Bad to Worse for General Motors and Self-Driving Start-Up Cruise. Here's Why I Think Tesla Is the Big Winner
The automobile market is going through something of a renaissance right now. Car manufacturers worldwide are investing significant sums into battery-powered vehicles -- perhaps the bedrock of the green energy movement.
Moreover, the notion of self-driving cars has become increasingly more prominent among car manufacturers and tech companies alike. General Motors (NYSE: GM) has been trying to make inroads in self-driving technology for years. Most notably, the company acquired a majority stake in a start-up called Cruise back in 2016.
However, over the years, Cruise has been plagued with operational setbacks. Most recently, several public reports suggest that Cruise's valuation has been lowered by more than half.
Source Fool.com
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