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Honda to invest $2.75 bn, take 5.7% stake in GM's self-driving car unit

Honda's partnership comes months after Japan's SoftBank Group made its own multibillion-dollar commitment to Cruise

Reuters  |  Warren, Mich 

Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 per cent stake in General Motors Co's Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services fleets around the world. Honda's partnership comes months after Japan's SoftBank Group made its own multibillion-dollar commitment to Cruise. That puts Cruise in a league with Alphabet Inc's Waymo unit in terms of resources and aggressive plans to launch commercial services. Honda, which has lagged behind many of its rivals in developing self-driving vehicles, is ...

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First Published: Thu, October 04 2018. 02:14 IST
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