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.