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Walmart's Massive Self-Driving Investment Is A Big Deal


The GM-backed Cruise autonomous driving division raises $2.75 billion.
Only a few days following the announcement of Dubai becoming the first non-US city to strike a deal with GM s Cruise autonomous driving unit that ll see robotaxis coming to one of the world s hottest tourist destinations starting in 2023, the company is back with another big reveal. Actually, the news comes from Walmart US CEO John Furner. Why? Because the retail giant is part of the startup s latest fundraising round that s brought in another $2.75 billion. San Francisco-based Cruise is now valued at over $30 billion. In 2019, it was worth $19 billion.
Today we re taking the next step in our work with autonomous vehicles by making an investment in Cruise, Furner said in a blog post. The investment will aid our work toward developing a last mile delivery ecosystem that s fast, low-cost and scalable. ....

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Walmart invests in GM's Cruise autonomous vehicle subsidiary


Walmart invests in GM s Cruise autonomous vehicle subsidiary
April 15, 2021
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DETROIT (AP) Walmart and some institutional investors have joined the latest investment in Cruise, bumping the capital influx into the General Motors autonomous vehicle subsidiary from over $2 billion to $2.75 billion.
Walmart and Cruise announced a partnership last fall to launch a self-driving delivery test in Phoenix.
“The investment will aid our work towards developing a last mile delivery ecosystem that’s fast, low-cost and scalable,” Walmart CEO John Furner said in a statement.
Honda and Microsoft are among other investors with a a stake in Cruise. Furner said Cruise s fleet of all-electric vehicles will help Walmart reach a goal of zero emissions by 2040. ....

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Walmart Bets On Cruise, Lifting Robotaxi Startup's Latest Round To $2.75 Billion


Walmart Bets On Cruise, Lifting Robotaxi Startup’s Latest Round To $2.75 Billion
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Cruise, the self-driving startup backed by General Motors, said Walmart and institutional investors have joined a previously announced funding round, boosting the total haul to $2.75 billion. That may also make it the industry’s best-funded autonomous tech developer.  
Walmart joined a round initially disclosed in January that included Microsoft and which, at the time, Cruise said brought in $2 billion. San Francisco-based Cruise didn’t immediately identify the other investors that, along with the retail giant, accounted for the $750 million increase. Led by former GM President Dan Ammann, Cruise estimates its current valuation is more than $30 billion. It also counts Honda and Softbank as investors and partners.  ....

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