Electronics and Semiconductors

Video: Cruise secures $5 billion for self-driving expansion

18 June 2021

Cruise Automation, the autonomous driving wing of General Motors, has been given a $5 billion line of credit from GM Financial to expand its self-driving car fleet.

This brings the total amount of investment in Cruise to more than $10 billion.

Cruise Automation plans to use the new funds to build a fleet of Origin self-driving cars

In the next few weeks, GM’s Pre-Production Operations center will start building the first batch of a planned 100 pre-production Origins.

These vehicles will be tested and validated during the summer.

In 2018, Cruise received more than $3 billion in funding from GM and Softbank. Since that time, the company acquired Voyager to further its self-driving goals.

In the video, Cruise shows a sneak peak of the building of the Origin vehicles on the factory floor. The assembly of one vehicle is completed and the result is a functional prototype of a pod type autonomous vehicle.

To contact the author of this article, email PBrown@globalspec.com


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