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.
Cruise has a self-described “aggressive” growth strategy that Vogt described on Tuesday’s GM Q2 earnings call as “exponential.” In the past, the company has said the production and rapid scaling of its purpose-built Origi …
