GM plans to roll out the autonomous vehicles in a ride-hailing app next year, positioning itself as a competitor to Google-owned Waymo. SoftBank previously has invested in ride-hailing companies such as Uber and Didi Chuxing in China.
“This gives GM Cruise the capital necessary to commercialize at scale,” said GM CEO Mary Barra, according to Bloomberg.
GM’s stock price rose 12 percent in response to the news.
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