GM also pointed to the increasingly competitive robotaxi market as a reason for the move. In October, Tesla boss Elon Musk unveiled the electric car giant's long-awaited robotaxi, the Cybercab, at the Warner Bros Studios in Burbank,

General Motors is pulling the plug on its efforts to develop a fleet of driverless taxis and will focus on driver-assistance features that require a driver to be ready to take control of the car, the company said Tuesday.

Elon Musk and social media users are reacting after Tesla stock reached $420, years after the CEO's "funding secured" tweet that landed him in controversy.