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The automaker said late Friday that is is acquiring SoftBank Vision Fund 1’s equity ownership in Cruise for $2.1 billion. GM is also making an additional $1.35 billion investment in Cruise ...
The automaker will invest an additional $3.5 billion into the startup. General Motors is acquiring SoftBank's stake in Cruise and pouring even more money into the self-driving unit it purchased in ...
Cruise LLC. Cruise LLC is an American self-driving car company headquartered in San Francisco, California. Founded in 2013 by Kyle Vogt and Dan Kan, [ 4][ 5][ 6] Cruise tests and develops autonomous car technology. The company is a largely autonomous subsidiary of General Motors. [ 7]
GMT T1XX. The GMT T1XX is the assembly code for a vehicle platform architecture developed by General Motors for its line of full-size trucks and large SUVs that has been announced to start production in the fall of 2018 for the 2019 model year. [ 1] The "XX" is a placeholder for the last two digits of the specific assembly code for each model.
2015–2019 Opel Karl. 2015–2019 Vauxhall Viva. 2016–2022 Chevrolet Spark. 2016 – 2018 Holden Spark. 2019–2022 VinFast Fadil *. 2021–present Chevrolet Trax. The successor to the Gamma II platform, in accordance with GM's renaming of most of their platforms in "_ _ XX" format circa 2015.[ 8] 2017 Chevrolet Sonic. Gamma II.
In total, Cruise has already raised over $15 billion, per Crunchbase data. GM has spent, and lost, over $8 billion since acquiring Cruise in 2016, with $3.48 billion lost in 2023 alone.
Chief executive Dan Ammann said the money would help Cruise (and therefore GM) roll out driverless cars on a "massive scale." Cruise has raised $7.25 billion in the past year.
States like California are banning sales of new gas-based cars by 2035, while the UK confirmed plans to ban new combustion-powered car sales by 2030. If GM didn’t have a flurry of EVs in ...