SoftBank, a giant Japanese tech investment firm, owns big stakes in Uber as well as in India’s Ola and China’s Didi Chuxing. AFP / KAZUHIRO NOGI
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Two technology giants announced major new investments in self-driving vehicles Thursday, bringing the world a step closer to a time when autonomous cars are a part of everyday life – a reality that General Motors aims to achieve in some places as early as next year.SoftBank, a giant Japanese tech investment firm, announced Thursday that it would spend $2.25 billion for a 20-percent stake in GM's autonomous vehicle business.As part of the Waymo-Fiat Chrysler announcement, the companies said they were discussing use of Waymo technology in Fiat-Chrysler self-driving vehicles that would be sold to the public.GM Cruise would remain a wholly owned subsidiary of GM with the automaker keeping roughly 80 percent of the business. SoftBank can trade its stake for shares in GM if Cruise isn't spun off into a new company within seven years.Michael Ronen, a managing partner for SoftBank, said Thursday the companies would make their own decisions, but Abuelsamid saw more alliances with GM coming, with GM vehicles carrying passengers on the Uber, Didi or Ola networks.
FOLLOW THIS ARTICLE