Page 27 - Dan Ammann News Today

Former Cruise CEO Dan Ammann moved has to ExxonMobil. He'll be focused on opportunities in carbon capture/storage, hydrogen and low-emission fuels.

General Motors Co. said it is buying out SoftBank Vision Fund L.P.'s stake in its Cruise division for $2.1 billion, roughly four years after the Japanese investment firm joined the car maker in betting on driverless-car technology.

WASHINGTON: 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. SoftBank’s departure, which comes as the Japanese conglomerate struggles with debts, prompted questions from sector watchers about whether Cruise is ready to generate

General Motors Co (GM) has bought out the Softbank Vision Fund’s stake in self-driving vehicle start-up Cruise LLC for US$2.1 billion, ending the Japanese investment firm’s involvement in the business and giving the Detroit, Michigan, automaker 80 percent ownership. GM on Friday said it would invest another US$1.35 billion in Cruise, which makes up for the amount Softbank had pledged to invest in the start-up once the company deploys vehicles in a planned ride-sharing business. The deal cons...

The move ends the SoftBank Vision Fund 1’s involvement in the self-driving startup, giving the Detroit automaker 80% ownership.

SoftBank Group Corps Vision Fund exited its bet on General Motors self-driving car subsidiary Cruise as the auto giant upped the ante, investing another $3.45 billion in the loss-making unit. ... | March 18, 2022

WASHINGTON—SoftBank Group Corp's Vision Fund exited its bet on General Motors (GM) self-driving car subsidiary Cruise as the ...

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GM is acquiring SoftBank Vision Fund 1’s equity ownership stake in its majority-owned Cruise autonomous vehicle unit for $2.1 billion.

GM is acquiring SoftBank Vision Fund 1’s equity ownership stake in its majority-owned Cruise autonomous vehicle unit for $2.1 billion.