:quality(70)/arc-anglerfish-arc2-prod-cmg.s3.amazonaws.com/public/5Y6PIQNE4QFVCKXSQRWXJF2IQI.jpg)
DETROIT — Honda is teaming up with General Motors to develop autonomous vehicles, committing $2.75 billion to the project.
Honda will work with Cruise, General Motors' autonomous vehicle technology company, to develop and mass produce a self-driving car to be sold globally, officials said Wednesday in a release.
"Together, we can provide Cruise with the world's best design, engineering and manufacturing expertise, and global reach to establish them as the leader in autonomous vehicle technology – while they move to deploy self-driving vehicles at scale," General Motors chairman and CEO Mary Barra said in a release.
The investment raises the value of Cruise to $14.6 billion.
"The Honda partnership paves the way for massive scale by bringing a beautiful, efficient, and purpose-built vehicle to our network of shared autonomous vehicles," Cruise CEO Kyle Vogt said in a release.
We’re proud to announce that @Honda is investing $2.75 billion dollars in Cruise and has chosen to partner with us and @GM. This partnership will help us to create a new purpose-built autonomous vehicle.https://t.co/4ffuLcvIOM
— Cruise Automation (@Cruise) October 3, 2018
Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/7QOJU3BNCJERBNKJC5LWTBYFLU.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/7QKIU6WUQVV2PVA5YE6CCCJANM.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/2DRBVTNXJBF3HDQ4ASNMVGSIQQ.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/DPCDKK6YTFDOZMJYCNGBMXUWWA.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/3TC4EXV7IFA4ZPFQYK4NC6ISMM.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/U3KVMHHAJRDSPC7W4IORI5TYPM.jpg)