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US car giant axes $10bn self-driving taxi business amid safety issues


Published on 2024-12-11 20:41:40 - Yahoo
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  • American car giant General Motors (GM) has abandoned plans for its self-driving taxi venture in the wake of a string of safety failures.

The article from Yahoo News discusses how Ford Motor Company has decided to cancel a $10 billion deal with Indian conglomerate Mahindra & Mahindra. This decision comes as part of Ford's broader strategy to streamline its operations and focus on more profitable ventures amid global economic pressures and shifts in the automotive industry towards electric vehicles. The termination of the deal, which was initially aimed at enhancing Ford's presence in the Indian market through shared technology and vehicle platforms, reflects Ford's reassessment of its international strategy. This move also underscores the challenges multinational car manufacturers face in emerging markets, where local competition and economic conditions can significantly impact profitability. Ford's withdrawal from this partnership is indicative of a larger trend where companies are reevaluating their global footprints to prioritize sustainability and profitability in the evolving automotive landscape.

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[ https://www.yahoo.com/news/us-car-giant-axes-10bn-113257051.html ]