GM and Honda Partner to Build Autonomous Vehicles
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2018-10-03
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GM and Honda Partner to Build Autonomous Vehicles Honda will invest $2.8 billion over the next 12 years to the partnership, as it takes a 5.7% stake in the General Motors subsidiary, Cruise Holdings. Cruise Holdings is GM’s
self-driving car company. The two automakers hope to
speed up the deployment of self-driving
cars to major cities in 2019. GM previously promised pilots for
ride-sharing autonomous vehicles
in some cities by late 2019. The U.S. and Japanese automakers were already working together to develop electric car batteries and hydrogen fuel cells. Together, GM and Honda will determine
how they can commercialize Cruise
across global markets. GM had already received a $2.25 billion investment from SoftBank Vision Fund
for the self-driving subsidiary. After both the Honda and SoftBank deals, Cruise is valued at $14.6 billion.
self-driving car company. The two automakers hope to
speed up the deployment of self-driving
cars to major cities in 2019. GM previously promised pilots for
ride-sharing autonomous vehicles
in some cities by late 2019. The U.S. and Japanese automakers were already working together to develop electric car batteries and hydrogen fuel cells. Together, GM and Honda will determine
how they can commercialize Cruise
across global markets. GM had already received a $2.25 billion investment from SoftBank Vision Fund
for the self-driving subsidiary. After both the Honda and SoftBank deals, Cruise is valued at $14.6 billion.
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