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1. GM’s self-driving unit gets $1.15B
GM’s (GM) self-driving spin-off Cruise got $1.15B in new investments at a $19B valuation. Investors included GM, SoftBank Vision Fund, and Honda. Cruise has secured $7.25B in capital commitments in the past year. The Vision Fund chipped in $2.25B last May then GM pledged $750M over 12 years as part of its autonomous vehicle design pact with Honda.
GM purchased Cruise