Auto maker Honda is to invest US$2.75bn in General Motors and Cruise to develop a purpose-built autonomous vehicle for large-scale manufacture and deployment, it has been announced.

The Japanese car maker has committed the large sum of cash over 12 years to reach the shared goal with General Motors to transform mobility. Combined with recent SoftBank investments in Cruise, the total valuation of the AV company is now a combined US$14.6bn.

“Honda chose to collaborate with Cruise and General Motors based on their leadership in autonomous and electric vehicle technology and our shared vision of a zero-emissions and zero-collision world,” said Seiji Kuraishi, Honda executive vice president and representative director COO.

Continue reading Honda and General Motors join forces to build autonomous cars at ADAS & Autonomous Vehicle International.