Walmart invests in GM’s Cruise autonomous vehicle subsidiary

News

DETROIT (AP) — Walmart and some institutional investors have joined the latest investment in Cruise, bumping the capital influx into the General Motors autonomous vehicle subsidiary from about $2 billion to $2.75 billion.

Walmart CEO John Furner says Cruise will help the retail giant with an autonomous delivery system that is fast and scalable.

Walmart and Cruise announced a partnership last fall to launch a self-driving delivery test in Phoenix. Honda and Microsoft are among other investors with a a stake in Cruise.

Furner says Cruise’s fleet of all-electric vehicles will help the retailer reach a goal of zero emissions by 2040.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Video

FOX24 Video

TOP STORIES

More News

Local News Video

DON'T MISS

More Don't Miss

Trending Stories

Follow KNWA & FOX24 on Facebook

get the app

News App

Weather App

Follow @KNWAFOX24 on Twitter

Mega Millions & Powerball Numbers