Cruise Automation Status
The company has entered into a definitive agreement to receive $2.75 billion of development capital from Honda Motor Company on October 3, 2018. Honda will work with GM Cruise LLC to develop a purpose-built driverless car from the ground up that can be manufactured in high volumes and deployed globally. Previously, the company received $3.35 billion of development capital from SoftBank Investment Advisers and General Motors (NYSE: GM) on May 31, 2018. The proceeds from the funding will be used to commercialize AV technology at large scale.