Walmart is investing in Cruise, GM’s majority-owned self-driving vehicle subsidiary.
Walmart is investing in Cruise, General Motors’ majority-owned self-driving vehicle subsidiary, as part of a new $2.75 billion funding round for the company.
The decision arrives five months after the companies started developing a pilot program to use Cruise autonomous vehicles for deliveries in Scottsdale, Arizona.
“This investment is a marker for us – it shows our commitment to bringing the benefit of self-driving cars to our customers and business,” Walmart U.S. CEO John Furner wrote on his blog Thursday. “We’re excited to join Cruise’s already impressive partner and investor ecosystem with the likes of GM, Honda and Microsoft as we work towards pioneering this emerging technology.”
A Walmart spokeswoman said it will continue to work with other autonomous vehicle companies despite the investment in Cruise.