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Softbank Vision fund invests $2.25 billion in GM self driving cars

SoftBank Vision Fund will invest $2.25 billion in General Motors Co’s (GM.N) autonomous vehicle unit, Cruise, the companies said on Thursday, announcing a deal that validates the venerable Detroit automaker’s leadership in self-driving cars and sent GM shares up 10 percent. The partnership with SoftBank’s $100-billion Vision Fund – one of the largest investments to date in self-driving technology – will help GM fund wide-scale deployment of self-driving cars, GM told analysts on Thursday. The partnership values Cruise, bought by GM two years ago for an estimated $1 billion, at $11.5 billion. GM is competing with technology companies and other
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