Honda buys stake in GM Cruise self-driving unit, to invest $2 billion
Share:
(Reuters) - Honda Motor Co Ltd will invest $2 billion (1.5 billion pounds) and take a 5.7 percent stake in General Motors Co's Cruise self-driving vehicle unit, extending cooperation between the two automakers in a technology that has enormous costs and risk but no market-ready products.Honda is paying $750 million upfront for the minority stake in Cruise and will invest another $2 billion over 12 years, the companies said on Wednesday. Honda, GM and Cruise will jointly develop self-driving..