GM Self-Driving Car to Gain $3.3B Investment
May 31, 2018—General Motors (GM) and the SoftBank Vision Fund have teamed up to invest in GM Cruise, reported The Detroit Free Press.
SoftBank is a large technology investment company with stakes in such companies as Uber, according to the report. It will invest $2.25 billion in GM Cruise holdings and GM will invest $1.1 billion in GM Cruise, its self-driving arm.
The investments are expected to provide the necessary capital to reach commercialization of autonomous vehicles "at scale" beginning in 2019.