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Benzinga
Benzinga
Business
Shanthi Rexaline

GM Buys Out Softbank's Stake In Cruise Self-Driving Unit And Commits Additional Capital

General Motor Corporation (NYSE:GM) announced late Friday, a move that only goes to underline the seriousness with which the company is pursuing its electrification ambition.

What Happened: GM said it is buying out Japanese investment management firm SoftBank Group Corp. (OTC:SFTBY)-owned fund's equity stake in it Cruise self-driving unit. GM is paying SoftBank $2.1 billion for the transaction.

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