General Motors (GM) has announced a $1 billion investment in Cruise, its autonomous vehicle subsidiary, to accelerate the development and deployment of autonomous vehicles.
Investment Details
The investment will be used to expand Cruise's engineering team and develop more advanced autonomous driving capabilities.
Mary Barra, GM's CEO, stated that the investment is a key step in the company's efforts to lead the development of autonomous vehicles and shape the future of transportation.
The investment is expected to increase Cruise's valuation to over $20 billion.