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Saturday, July 06, 2019

GM Gets Self Driving Infusion

Another indication of self-driving seriousness by major automotive.  Note thought the mention of revelations of Tech in consideration below.

GM's self-driving unit is close to receiving a $2.25 billion boost
SoftBank has been cleared to make a huge investment in Cruise.
Jon Fingas, @jonfingas in Engadget

It took more than a year, but GM's self-driving company is close to receiving a giant cash infusion. Cruise Automation confirmed to Reuters that the Committee on Foreign Investment in the US (CFIUS) had approved SoftBank's $2.25 billion investment in the driverless tech company. SoftBank will have a spot on Cruise's board as a result of the deal. However, a Reuters source claimed that SoftBank wouldn't have access to the technology itself -- a condition CFIUS reportedly set out over concerns that the Japanese firm's investments in Chinese tech would compromise American trade secrets. .... " 

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