GM and Softbank are putting $3 billion into self-driving cars

Softbank will invest $2.25 billion in General Motors' autonomous vehicle efforts, months after it took a large ownership stake in Uber.

GM announced it is also investing $1.1 billion in the joint effort. CEO Mary Barra said the investment will help GM to launch autonomous vehicles next year, something the automaker had previously announced it was planning.

The self-driving car division of GM getting the investment is a separate company known as GM Cruise. It's the biggest partnership between a tech investment company and an automaker in the effort to develop self-driving cars.

Softbank will own about 20% of a joint venture that has been set up to bring GM's self-driving technology to market. Softbank will invest $900 million now, and the additional $1.35 billion when GM's autonomous vehicles are ready for commercial deployment.


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