$1.15 Billion Investment for GM Cruise

GM Cruise

CBJ — The GM Cruise and the autonomous vehicle unit at General Motors is recieing $1.15 billion from investors as a means of speeding up the process of this line of automobile.

The huge investment is spearheaded by the  T. Rowe Price group out of Baltimore.  Funds are coming from GM, Honda and Japanese tech investment firm SoftBank.

Cruise CEO Dan Ammann said in a statement the investment gives Cruise deep resources to draw on as it develops and deploys self-driving vehicles.

Cruise is considered among the leaders in the race to deploy autonomous vehicles without human backup drivers. No public announcement has been made as to when Cruise hopes this can all happen.  Previously, there had been hopes of later this year, but that timeline seems to have been pushed back.

@CanBizJournal

 

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