Honda To Invest $2.75 Billion In GM Self-Driving Market
- 6 years ago
According to Automotive News, Honda Motor Co. will invest $2.75 billion into General Motors' autonomous vehicle program. Honda will receive a 5.7 percent stake in GM's Cruise which will include $750 million investment with an additional $2 billion for development and deployment over the next 12 years. The announcement brings Cruise's value to $14.6 billion. Honda's investment comes nine months after GM announced plans to launch public ride services with self-driving vehicles starting in 2019.