![]() ![]() The SoftBank Vision Fund investment will be made in two tranches. “We look forward to partnering with SoftBank as we work toward deploying this technology safely and in massive scale.” “We’re excited to be joining forces with a tech leader who shares our belief that AV technology will change the world,” said GM President Dan Ammann. We are very impressed by the advances made by the Cruise and GM teams, and are thrilled to help them lead a historic transformation of the automobile industry.” “The GM Cruise approach of a fully integrated hardware and software stack gives it a unique competitive advantage. “GM has made significant progress toward realizing the dream of completely automated driving to dramatically reduce fatalities, emissions and congestion,” said Michael Ronen, managing partner, SoftBank Investment Advisers. “Teaming up with SoftBank adds an additional strong partner as we pursue our vision of zero crashes, zero emissions and zero congestion.” “Our Cruise and GM teams together have made tremendous progress over the last two years,” said GM Chairman and CEO Mary Barra. GM will also invest $1.1 billion in GM Cruise upon closing of the transaction. Investment values GM Cruise at $11.5 billionĭETROIT - General Motors (NYSE: GM) announced today that the SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC (GM Cruise), further strengthening the company’s plans to commercialize AV technology at large scale.SoftBank and GM joining forces to drive large-scale AV deployment.
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