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31May/180

SoftBank pours $2.25 billion into GM’s self-driving car division

SoftBank hasn't been shy about its interest in smart cars, and it's taking that fascination to a new level. The company's Vision Fund is investing $2.25 billion in GM's self-driving vehicle unit Cruise. The cash influx will start with $900 million the moment the transaction closes, and will finish with $1.35 billion once the completely driverless Cruise AV car is ready to launch. The move will give the Vision Fund a 19.6 percent stake in Cruise -- not enough to take control, but it could easily prove influential.

Article source: https://www.engadget.com/2018/05/31/softbank-invests-in-gm-cruise-self-driving-unit/

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