General Motors’ self-driving car division, Cruise, said Tuesday it received a $1.15 billion investment, raising the unit’s value to $19 billion.
The money comes from existing investors GM, SoftBank Vision Fund and Honda as well as funds and accounts advised by T. Rowe Price Associates and other institutional investors. GM said the boost brings investments in Cruise over the past year to $7.25 billion, including money funneled in from the parent company…
Cruise raised $2.25 billion from Japanese tech investment firm SoftBank and $2.75 billion from Honda last year. The company also announced plans to expand to Seattle in November and said it will hire up to 200 engineers there by the end of 2019.