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ottobre 03, 2018 - Honda Auto

Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle

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Honda Joins with #cruise and #generalmotors to Build New Autonomous Vehicle

Oct 3, 2018 - SAN FRANCISCO

Cruise and #generalmotors (NYSE: GM) announced today that they have joined forces with #honda (TYO: 7267) to pursue the shared goal of transforming mobility through the large-scale deployment of autonomous vehicle technology.

Honda will work jointly with #cruise and #generalmotors to fund and develop a purpose-built autonomous vehicle for #cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment. In addition, #cruise, #generalmotors and #honda will explore global opportunities for commercial deployment of the #cruise network.

Honda will contribute approximately $2 billion over 12 years to these initiatives, which, together with a $750 million equity investment in #cruise, brings its total commitment to the project to $2.75 billion.

In addition to the recently announced SoftBank investments, this transaction brings the post-money valuation of #cruise to $14.6 billion.

"This is the logical next step in #generalmotors and Honda's relationship, given our joint work on electric vehicles, and our close integration with #cruise," said #generalmotors 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."

Further information in the press release to download