31 May '18, 12pm

#SoftBank to invest $2.25B in #GMCruise; #GM to add $1.1B; driving large-scale #AV deployment

#SoftBank to invest $2.25B in #GMCruise; #GM to add $1.1B; driving large-scale #AV deployment

SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC (GM Cruise), further strengthening the company’s plans to commercialize autonomous vehicle (AV) technology at large scale. GM will also invest $1.1 billion in GM Cruise upon closing of the transaction. The investments value GM Cruise at $11.5 billion. GM has made significant progress toward realizing the dream of completely automated driving to dramatically reduce fatalities, emissions and congestion. The GM Cruise approach of a fully integrated hardware and software stack gives it a unique competitive advantage. 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. —Michael Ronen, managing partner, SoftBank Investment Advisers The SoftBank Vision Fund investment will be made in two tranches. At t...

Full article: http://www.greencarcongress.com/2018/05/20180531-softbank...

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GM Cruise gets $2.25B boost from SoftBank Visio...

electriccarsreport.com 31 May '18, 2pm

The SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC (GM Cruise), further strengthening the compan...

SoftBank Vision Fund to invest $2.25 billion in...

General Motors announced today that the SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC, further ...