Automotive giant General Motors announced Tuesday that it would be pulling funding from its robotaxi firm Cruise, though it gestured at future plans to continue developing self-driving cars.

General Motors has announced that it will stop funding the development of the Cruise self-driving taxi. The company says it will now "refocus autonomous driving development on personal vehicles". GM also pointed to the increasingly competitive robotaxi market as a reason for the move.

Automakers like Ford Motors and Volkswagen had also once made big, billion-dollar bets on the future of ridehail—only to walk back those plans later.