GM, Honda Team to Build Self-Driving Vehicle
October 3, 2018—Honda will work with Cruise and GM to fund and develop a "purpose-built" self-driving car for Cruise GM said in a statement, according to the Detroit Free Press.
Additionally, Cruise, GM and Honda will look at how they can commercialize the Cruise network across global markets, according to the report.
Honda will contribute about $2 billion over 12 years to these goals. It will also finance a $750 million equity investment in Cruise, bringing its total commitment to the project to $2.75 billion.
According to the Detroit Free Press, GM has a long-running partnership with Honda, which has enabled this deal to work.