Cruise secures $5B credit line to buy electric, autonomous Cruise Origin vehicles from GM
https://techcrunch.com/2021/06/15/cruise-secures-5b-credit-line-to-buy-electric-autonomous-cruise-origin-vehicles-from-gm/
Cruise, the self-driving subsidiary of GM, has tapped a $5 billion line of credit from the automaker’s financial arm to pay for hundreds of purpose-built electric and autonomous Origin vehicles as they start to roll off the assembly line.
The access to the credit provided by GM Financial will push Cruise’s “total war chest” to more than $10 billion as it prepares for commercialization, CEO Dan Ammann wrote in a blog post Tuesday.