GM: SoftBank Vision fund to invest in GM Cruise

(CercleFinance.com) - General Motors (GM) has announced that SoftBank Vision Fund will invest 2.
25 billion dollars in GM Cruise Holdings LLC, hence reinforcing the Detroit car maker's plans to market AV technology on a large scale.

This investment in GM Cruise will be made in two tranches; one of 900 million dollars on the completion of the transaction (at the same time as a 1.1 billion dollar investment by GM), and then an investment of 1.35 billion dollars once ready to be commercially deployed.

The SoftBank Vision Fund will then hold a 19.6% stake in GM Cruise, which will provide General Motors with more flexibility in the allocation of capital. Full-scale marketing is expected early next year.


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