GM’s stock surges as Softbank plans to invest billions in automaker’s self-driving business
http://www.washingtonpost.com/blogs/the-switch/wp/2018/05/31/gms-stock-surges-as-softbank-plans-to-invest-billions-in-automakers-self-driving-business/
General Motors announced Thursday that Japan's SoftBank will pour $2.25 billion in the automaker's self-driving business, in a significant deal experts say boosts GM's chances to be the first company to deploy autonomous cars nationwide.
In exchange for the investment, GM said the investment firm will receive a nearly 20 percent equity stake in GM Cruise, the Detroit company's autonomous vehicle unit. GM's stock soared following the announcement, climbing more than 10 percent in morning trading.
GM’s stock surges as Softbank plans to invest billions in automaker’s self-driving business
May 31, 2018, 4:15pm UTC
http://www.washingtonpost.com/blogs/the-switch/wp/2018/05/31/gms-stock-surges-as-softbank-plans-to-invest-billions-in-automakers-self-driving-business/
> General Motors announced Thursday that Japan's SoftBank will pour $2.25 billion in the automaker's self-driving business, in a significant deal experts say boosts GM's chances to be the first company to deploy autonomous cars nationwide.
> In exchange for the investment, GM said the investment firm will receive a nearly 20 percent equity stake in GM Cruise, the Detroit company's autonomous vehicle unit. GM's stock soared following the announcement, climbing more than 10 percent in morning trading.