Mexican Media Brands
GM Cruise Picks Up Another $1.2 Billion in Funding
GM Cruise LLC has received $1.2 billion from institutional investors, thereby hiking the market value of the autonomous-car startup to $19 billion.
#economics
Share
GM Cruise LLC has received $1.2 billion from institutional investors, thereby hiking the market value of the autonomous-car startup to $19 billion.
The latest round of equity investment came from current stakeholders, such as GM, Honda and SoftBank Group, and an array of newcomers that includes T. Rowe Price Associates.
GM acquired the former Cruise Automation Inc., a San Francisco-based developer of software to control self-driving vehicles, in 2016 for about $1 billion. The company has been headed since Jan. 1 by Dan Ammann, GM’s former president.
Ammann’s primary goal is to scale up the company and commercialize its capabilities. Cruise has said it intends to launch a fleet of self-driving taxis by the end of 2019.
RELATED CONTENT
-
Increasing Use of Structural Adhesives in Automotive
Can you glue a car together? Frank Billotto of DuPont Transportation & Industrial discusses the major role structural adhesives can play in vehicle assembly.
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
When Automated Production Turning is the Low-Cost Option
For the right parts, or families of parts, an automated CNC turning cell is simply the least expensive way to produce high-quality parts. Here’s why.
