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.

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.