SoftBank to sink $2.25 billion into GM autonomous car unit, with 'robotaxi' deployment eyed in 2019

DETROIT – Japanese technology conglomerate SoftBank will spend $2.25 billion (about ¥245 billion) to secure a nearly 20 percent stake in General Motors' autonomous vehicle unit. GM said Thursday that it will also sink another $1.1 billion into its GM Cruise automated division. The capital infusion is designed to speed large-scale deployment of self-driving'robotaxis' next year. The move widens the SoftBank Vision Fund's influence in ride-hailing services. The fund closed a deal in January to spend about $9 billion for a 15 percent stake in Uber, and also owns a stake in China's top ride-hailing firm Didi Chuxing.