Investigation ends following recall and NHTSA analysis of available data

  • U.S. regulators close investigation into GM’s Cruise self-driving system after recall resolved concerns
  • NHTSA analyzed over 7,600 hard braking events and found no crashes or injuries resulting from immobilization incidents
  • Cruise committed to building trust and increasing transparency with autonomous vehicle technology

Federal auto-safety regulators have ended an investigation into General Motors’ Cruise division after a recall resolved concerns around inappropriately hard braking. The National Highway Traffic Safety Administration (NHTSA) said Thursday that GM’s Cruise division issued a recall earlier this month that updated the software of its U.S. fleet to reduce the risk of unexpected braking maneuvers. In light of the recall and its own analysis of available data, the regulator closed an investigation launched in December 2022 following reports that Cruise vehicles might engage in inappropriately hard braking or stall while operating on public roads. The agency found that none of the immobilization incidents resulted in a crash or injuries after analyzing data from over 7,600 hard braking events. Cruise is committed to building trust and increasing transparency with respect to autonomous vehicle technology and looks forward to continued work with NHTSA.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the investigation’s closure by NHTSA into Cruise’s autonomous vehicle technology, including details on the recall and analysis of hard braking events. It also mentions past incidents and regulatory actions taken against Cruise, as well as the industry-wide scrutiny on self-driving vehicles.
Noise Level: 4
Noise Justification: The article provides relevant information about the closure of an investigation into Cruise’s autonomous vehicle technology and mentions past issues with hard braking incidents. It also briefly touches on related industry events involving Tesla and Waymo. However, it could benefit from more in-depth analysis and exploration of the consequences of these incidents for both Cruise and the self-driving car industry as a whole.
Public Companies: General Motors (GM), Tesla (TSLA), Alphabet (GOOGL)
Private Companies: Cruise
Key People: Kyle Vogt (Co-founder and former Chief Executive), Dan Kan (Co-founder and former Chief Product Officer)

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Financial Relevance: Yes
Financial Markets Impacted: General Motors’ stock market
Financial Rating Justification: The article discusses an investigation by the National Highway Traffic Safety Administration (NHTSA) into General Motors’ Cruise division’s autonomous-driving system, which has ended after a recall resolved concerns around inappropriately hard braking. This impacts the financial markets as it affects GM’s stock market and the company’s reputation in the self-driving vehicle industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme event mentioned in the text, but there was a recall and suspension of operations due to safety concerns.
Move Size: 0.19%
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

Reported publicly: www.wsj.com