WASHINGTON, (Reuters) – General Motors Co. (NYSE:) announced Thursday that Dan Ammann is leaving as chief executive of the majority-owned Cruise self driving car subsidiary.

Ammann was a former GM chief financial officer and president.

Following the announcement, GM shares plunged 2.7% in trading after-hours.

GM announced that Kyle Vogt (Cruise president and chief technical officer) will be acting as interim CEO. Wesley Bush, who was the ex-chairman and CEO of Northrop-Grumman It said that a GM board member and (NYSE:) will be joining the Cruise board.

Cruise once had hoped that its commercial robotaxi service would be up and running by 2019. It is currently awaiting final permits for a restricted service to be launched in San Francisco’s East Bay area two years later.

GM indicated Thursday that it was accelerating its strategy. Cruise is expected to play an important role in building GM’s auto-pilot (AV) platform. GM also stated it is aggressively pursuing addressable AV markets, beyond delivery and rideshare.

Cruise and GM continue to collaborate, bringing together massive manufacturing capabilities and technology to autonomous driving that will quickly drive down costs.

Startups that are self-drivers are now racing to create warchests for technology development and scaling up. This is a costly and slow process.

Cruise announced in June that it would be able access to a $5 billion multi-year line of credit. GM’s finance division will fund Origin vehicle purchases starting in the early 2023.

According to Reuters, Cruise raised $2.75 Billion with an additional investment by Walmart (NYSE) Inc and other investors in April. This brings the startup’s value over $30 billion.

Cruise responded to San Francisco officials’ claims that their robotaxis illegally double-parked earlier this month. They also claimed they had the right block traffic for short stops.

San Francisco Municipal Transportation Agency (SFMTA), has rejected Cruise’s application to deploy robotaxis within San Francisco. It claimed Cruise illegally “double parked” while testing. This created safety and traffic issues. The agency demanded that Cruise be denied the permit until Cruise could prove greater competence.