capital infusion
GM's Self-Driving Fleet Gets $2.25 Billion Capital Infusion From SoftBank Ahead of 2019 Launch
With help from SoftBank Vision Fund, GM will launch self-driving cars with no steering wheel or pedals. SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings, the automaker's self-driving car unit, to help commercialize GM's autonomous vehicle technology in a large-scale fleet starting next year. GM is also investing $1.1 billion in GM Cruise, strengthening its commitment to bringing self-driving cars to market in a big way. "Our Cruise and GM teams together have made tremendous progress over the last two years," said GM Chairman and CEO Mary Barra. "Teaming up with SoftBank adds an additional strong partner as we pursue our vision of zero crashes, zero emissions and zero congestion."