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News, Analysis & Perspective on Autonomous Vehicles

GM’s self-driving unit is close to receiving a $2.25 billion boost

It took more than a year, but GM’s self-driving company is close to receiving a giant cash infusion. Cruise Automation confirmed to Reuters that the Committee on Foreign Investment in the US (CFIUS) had approved SoftBank’s $2.25 billion investment in the driverless tech company. SoftBank will have a spot on Cruise’s board as a result of the deal. However, a Reuters source claimed that SoftBank wouldn’t have access to the technology itself — a condition CFIUS reportedly set out over concerns that the Japanese firm’s investments in Chinese tech would compromise American trade secrets.

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