3 ms·
GM Is Exploring Listing Shares of Cruise Self-Driving Unit
- Fricken 8y agoPeople ask me "What's the pure play in self driving cars?", and I always shrug my shoulders and say "Sorry, there isn't one". Maybe that will change. The rumour is that Alphabet has invested $11 billion into Waymo to date, and the order for 80k robotaxis to be manufactured by Jaguar and FCA will probably cost them somewhere in the ballpark of $10-15 billion. So the while the $2.5 billion Softbank investment might seem like a lot of money, Cruise is going to need a lot more capital if they hope to go head to head with their chief competitor.
- devy 8y agoI don't understand this move. GM's Cruise was still named as the #2 player right after Waymo in the self-driving space after months ago, why does all of sudden GM want to spin-off or get it IPO'd?