Honda announced nowadays that it is upping its self-driving game with a $2.75 billion investment in General Motor’s Cruise Automation unit. The two auto giants are joining together to build self-driving vehicles for ride service fleets on a high-volume,global scale, according to Reuters. Honda will invest $750 million up front and another $2 billion over the next 12 years, or giving them a 5.7 percent minority stake.
The saunter is big for both companies. Honda has been behind its rivals when it comes to self-driving technology. For GM’s Cruise,the investment follows on the heels of a $2.25 billion investment from SoftBank Vision Fund. The two investments bring Cruise’s post-money valuation to $14.6 billion. GM shares climbed up 2.4 percent in the morning after the announcement.
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Source: inquisitr.com