What’s News: GM AV get cash infusion

The automaker announced on Tuesday the completion of a $1.15 billion investment round in its self-driving car subsidiary, GM Cruise LLC, that valued the company at $19 billion, or more than one-third the market capitalization of GM itself.

GM reportedly paid $1 billion or less in 2016 to take over the then-startup tech firm, which got a $2.75 billion investment from Honda in October and a total of $7.25 billion from various sources over the past year.

Original story

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.