SoftBank Group Corp's Vision Fund exited its bet on General Motors (GM) self-driving car subsidiary Cruise as the auto giant upped the ante, investing another $3.45 billion in the loss-making unit.
Waymo in Arizona, the revenue that you will generate from that deployment will be very, very small," said Raj Rajkumar, professor of electrical and computer engineering at Carnegie Mellon University, referring to a project developed by the parent of Google.
"We will definitely be selling a good chunk of assets," SoftBank CEO Masayoshi Son said last month, as he pivots from the collapse of the sale of chip designer Arm to a plan to list it in the United States.In a statement, GM CEO Marry Barra said, "GM is leveraging the strength of its balance sheet to capitalise on the opportunity to increase its equity investment in Cruise and advance our integrated autonomous vehicle strategy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon workers in Queens, Maryland stage walkout demanding $3 raise, breaksMore than 60 workers across three Amazon delivery stations staged a walkout on Wednesday to demand a $3 raise and a return to 20-minute breaks, according to one of the labor organizers leading the effort.
Read more »
Jury awards professor $3 million in pregnancy and sex discrimination suit against UT-AustinA jury awarded Evdokia Nikolova damages for past and future pain and suffering after...
Read more »
Roseanne Barr sells longtime California home for $3.1MBarr, 69, had owned the El Segundo residence for nearly 20 years.
Read more »
Former Mavericks GM says he was fired for reporting sexual misconductFormer Dallas Mavericks general manager Donnie Nelson sued the team Thursday, alleging that team owner Mark Cuban fired him in retaliation for reporting sexual misconduct by a team executive.
Read more »
Ex-Mavs GM says he was fired for reporting sexual misconductFormer Dallas Mavericks general manager Donnie Nelson is suing the Mavericks, alleging that team owner Mark Cuban fired him in retaliation for reporting sexual misconduct by a team executive.
Read more »
Ex-Mavs GM says he was fired for reporting sexual misconductFormer Dallas Mavericks general manager Donnie Nelson is suing the Mavericks, alleging that team owner Mark Cuban fired him in retaliation for reporting sexual misconduct by a team executive.
Read more »