Industry analysts are weighing in on GM's decision to pull out of the Cruise robotaxi business, and they almost unanimously agree that it was a good idea.

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 will stop funding its Cruise robotaxi business and focus on developing self-driving technology for personal vehicles, the automaker said in a statement on Tuesday. The company said in a statement that it had made the decision due to “the considerable time and resources that would be needed to scale the business” as well as increased competition in the robotaxi market.

In October, Tesla boss Elon Musk unveiled the electric car giant's long-awaited robotaxi, the Cybercab, at the Warner Bros Studios in Burbank, California. GM attributed the change of strategy to "the considerable time and resources that would be needed to scale the business".

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.

For years, General Motors CEO and Chair Mary Barra has promised a new future for the company, away from a stodgy metal-bending automaker into a tech-driven, forward-thinking company poised for growth.

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.

Welcome back to Week in Review. This week, we’re looking at GM’s decision to pull out of the robotaxi business, Google alluding to the existence of