• Saturday, 20 July 2019

Cruise Secures USD 1.15 Billion of Additional Investment


May 25, 2019 (2 months ago) |
SAN FRANCISCO: Cruise announced an equity investment of USD 1.15 billion from a group comprising institutional investors, including funds and accounts advised by T. Rowe Price Associates, Inc., and existing partners General Motors, SoftBank Vision Fund and Honda.
Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our generation, said Cruise CEO Dan Ammann. Having deep resources to draw on as we pursue our mission is a critical competitive advantage.

This investment increases Cruise's post-money valuation to $19.0 billion, inclusive of SoftBank Vision Fund's previously announced investment commitment. In the last year, Cruise has secured capital commitments totaling $7.25 billion.

Like This Article?
Cruise Secures USD 1.15 Billion of Additional Investment

contact Post your comment

category Read other United States News stories

home page Visit Home Page for latest updates