SoftBank Vision Fund invests 2.25 billion dollars in GM Cruise, the self-driving technology department of General Motors. GM itself invests another 1.1 billion dollars.
Japanese SoftBank Vision Fund created a 100 billion dollar fund, which it has already used to invest in other mobility companies, including he ride sharing companies Uber, Didi, Ola, and Grabon, processor companies Nvidia and ARM, or navigation map company Mapbox.
At first, 900 million dollars are going to be invested, another 1.35 billion dollars will follow, as soon as GM Cruise is ready for commercial deployment. This is expected for 2019.
GM Cruise is second to Waymo with its technology (see also Disengagement Report). Wyamo also announced today the purchase of up to 62,000 vehicles from Fiat Chrysler..
This article has also been published in German.
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