Honda to invest $2.75b in GM's self-driving car unit

Honda to invest $2.75b in GM's self-driving car unit

Visitors look at a Honda Motor Co's car displayed outside the company showroom in Tokyo April 26, 2013.

Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services fleets around the world.

Honda‘s partnership comes months after Japan’s SoftBank Group made its own multibillion-dollar commitment to Cruise. That puts Cruise in a league with Alphabet Inc’s Waymo unit in terms of resources and aggressive plans to launch commercial services.

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