Honda Join Forces with Cruise and General Motors To Build An Autonomous Vehicle - Insight Trending

Honda Join Forces with Cruise and General Motors To Build An Autonomous Vehicle

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Honda Join Forces with Cruise and General Motors To Build An Autonomous Vehicle
Cover Photo Credit: General Motors

Honda Join Forces with Cruise and General Motors To Build An Autonomous Vehicle

Honda will work together with Cruise and General Motors to finance and build up an autonomous vehicle for Cruise. The vehicle will be manufactured at high volume for global deployment. What's more, Cruise, General Motors and Honda will explore worldwide opportunities for commercial deployment of the Cruise network.

Honda will invest around $2 billion over the next 12 years to these activities, which, together with a $750 million value interest in Cruise, bring its aggregate investment to the venture to $2.75 billion. Honda’s investment together with SoftBank investments, brings the post-money valuation of Cruise to $14.6 billion.

“This is the logical next step in General Motors and Honda’s relationship, given our joint work on electric vehicles, and our close integration with Cruise,” said General Motors Chairman and CEO Mary Barra. “Together, we can provide Cruise with the world’s best design, engineering and manufacturing expertise, and global reach to establish them as the leader in autonomous vehicle technology – while they move to deploy self-driving vehicles at scale.”

“Honda chose to collaborate with Cruise and General Motors based on their leadership in autonomous and electric vehicle technology and our shared vision of a zero-emissions and zero-collision world,” said Honda Executive Vice President and Representative Director COO Seiji Kuraishi. “We will complement their strengths through our expertise in space efficiency and design to develop the most desirable and effective shared autonomous vehicle.”

“With the backing of General Motors, SoftBank and now Honda, Cruise is deeply resourced to accomplish our mission to safely deploy autonomous technology across the globe,” said Cruise CEO Kyle Vogt. “The Honda partnership paves the way for massive scale by bringing a beautiful, efficient, and purpose-built vehicle to our network of shared autonomous vehicles.”
Honda Join Forces with Cruise and General Motors To Build An Autonomous Vehicle
Photo Credit: General Motors

Source: gm media.

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