Cruise, General Motors' (GM's) self-driving vehicle subsidiary, is being investigated by multiple federal agencies, including the National Highway Traffic Safety Administration (NHTSA), the Department of Justice (DOJ), and the Securities and Exchange Commission (SEC), due to an accident in October that severely injured a pedestrian. California state agencies are also involved in the investigation.

Cruise also hired a law firm for an internal investigation, which criticized the company's inadequate communication with regulators and a misunderstanding of its public responsibilities. The law firm's report highlighted multiple issues within Cruise, such as poor leadership, errors in judgment, a confrontational attitude toward regulators, and a lack of transparency and accountability. 

Analyst QuickTake: Following the incident in October, Cruise faced the suspension of its autonomous vehicle permits in California. Subsequently, the company voluntarily withdrew its driverless taxi operations nationwide. Additionally, the period saw significant organizational changes, including the resignation of its CEO and several key executives, along with recalls and layoffs.