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Honda, SoftBank Headline $1.2B GM Autonomous Vehicle Deal

Law360 (May 7, 2019, 5:31 PM EDT) -- General Motors’ autonomous vehicle business on Tuesday said a handful of investors, including Honda and SoftBank, poured in $1.15 billion as the company continues to forge ahead toward a commercial rollout of its technologies.

California-based autonomous vehicle unit GM Cruise said the contributions came from Honda Motor Co., the SoftBank Vision Fund and funds advised by T. Rowe Price Group Inc., in addition to GM. The funding values Cruise at $19 billion, the company said.

“Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our generation,” Cruise CEO Dan Ammann said in a statement Tuesday. “Having deep...

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