GM’s stock surges as Softbank plans to invest billions in automaker’s self-driving business

GM’s stock surges as Softbank plans to invest billions in automaker’s self-driving business

6 years ago
Anonymous $2WKDXfy9lA

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.

Last Seen
about an hour ago
Reputation
0
Spam
0.000
Last Seen
54 minutes ago
Reputation
0
Spam
0.000
Last Seen
46 minutes ago
Reputation
0
Spam
0.000
Last Seen
about an hour ago
Reputation
0
Spam
0.000