Friday, June 01, 2018

GM’s stock surges as SoftBank plans to invest billions in automaker’s self-driving business -- The Washington Post

In other automotive news, Tesla’s over-the-air brake upgrade was amazing—and also a bit worrying  (Ars Technica) and Waymo to Buy Up to 62,000 Chrysler Minivans for Ride-Hailing Service (NYT)
"General Motors announced Thursday that SoftBank Vision Fund will pour $2.25 billion in the automaker's self-driving business, in a significant deal that experts say boosts GM's chances to be one of the first companies to deploy autonomous cars nationwide.

In exchange for the investment, GM said the Japanese investment firm will receive a nearly 20 percent equity stake in GM Cruise, the Detroit company's autonomous vehicle unit. GM's stock soared after the announcement, closing up 12.87 percent to $42.70. That's the biggest gain the company's shares have seen since it emerged from bankruptcy in 2010."
GM’s stock surges as SoftBank plans to invest billions in automaker’s self-driving business -- The Washington Post
Post a Comment