Taking another big step toward full vehicle autonomy, General Motors announced Friday morning that is acquiring Cruise Automation, an autonomous technology startup.
By bringing Cruise Automation under the General Motors Autonomous Vehicle Development Team, while also keeping it independent, GM hopes to bring fully autonomous cars to market as rapidly as possible.
Fortune is reporting that sources close to the deal peg the acquisition cost at “north of $1 billion.” When asked to verify the figure, a GM representative refused to comment on speculation. And that’s likely what this figure represents, as it’s unlikely Cruise Automation would have such a valuation. Read more…
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