General Motors and the SoftBank Vision Fund have partnered to invest in GM Cruise to bring self-driving vehicles to the market by next year.
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.
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