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- Boeing CEO says ending strike 'a top priority'
- Stock markets mostly fall after Fed-fueled rally
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- Biden says 'working' to get people back to homes on Israel-Lebanon border
- Pope criticises Argentina's crackdown on protesters
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- Gurbaz century takes Afghanistan to 311-4 in 2nd ODI
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- McLaren's Norris sets Singapore pace as struggling Verstappen 15th
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- Norris sets Singapore pace as Verstappen only 15th
- 8 dead in Israeli strike, source says Hezbollah commander killed
- Germany to bid to host women's Euro 2029
- Portugal brings deadly forest fires under control
- Postecoglou defends Solanke after slow start to Spurs career
- US nuclear plant Three Mile Island to reopen to power Microsoft
- Arteta urges Arsenal to take next step in Man City showdown
- Stock markets fall after Fed-fuelled rally
- Top Hezbollah commander 'killed' in Israel strike
- Poland charges Russian over attack on Navalny ally: prosecutors
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- EU chief announces 35 bn euro loan plan for Ukraine before winter
GM buying out SoftBank's $2.1 bn stake in Cruise self-driving cars
American automaker General Motors announced Friday it is acquiring SoftBank's $2.1 billion stake in its autonomous car venture Cruise.
In addition, GM will chip in another $1.35 billion investment to cover a commitment made in 2018 by the Vision Fund of SoftBank, a Japanese telecom giant.
The Detroit firm has ramped up its investments in autonomous technology and its build-out of electric vehicle capacity as it looks to curb emissions and engage in a technology race with Tesla and other self-driving ventures.
Cruise last month opened a sign-up page to allow consumers to take a driverless ride.
"Cruise has made self-driving cars a reality and is a leader on the pathway to commercial autonomous ridesharing and delivery, creating significant value for both GM shareholders and Cruise's minority shareholders," GM said in a statement.
GM bought Cruise Automation in 2017, which was spun out as a separate company in May 2018.
GM is the main investor in the venture, which also is backed by Microsoft, Honda and Walmart.
Late last year, the company announced plans to boost investment in electric and autonomous vehicle technology by $7 billion to $27 billion through 2025.
GM chief Mary Barra has said the goal is to have a "world with zero crashes, zero emissions and zero congestion."
G.Schulte--BTB