Japan’s SoftBank to sink $2.25b into GM autonomous car unit

Detroit: The Japanese technology conglomerate SoftBank will spend $2.25 billion (Dh8.3 billion) for a nearly a 20 per cent stake in General Motors’ autonomous vehicle unit. GM said Thursday that it will also sink another $1.1 billion into its GM Cruise automated division. The capital infusion is designed to speed large-scale deployment of self-driving robotaxis next year. The move widens the SoftBank Vision Fund’s influence in ride-hailing services. The fund closed a deal in January to spend about $9 billion for a 15 per cent stake in Uber.