Honda Motor Company Limited (7267.T) will invest $ 2 billion and take a 5.7 percent stake in the General Motors Company (GMN) Cruise Self-Driving Vehicle unit, in which a collaboration between two autocorcers is being increased in such a technique, Cost and risk are but no market-ready products.
Companies said on Wednesday that Honda, which is behind its many competitors in the development of driving vehicles, is paying $ 750 million for minority stake in Cruise and will invest $ 2 billion more than 12 years. Honda, GM and Cruise will jointly develop their own driving vehicles for deployment in the fleet of services around the world. GM shares were up 3.5 percent in early business In May, Softbank Group of Japan (9984T) said that it would buy a 19.6 percent stake in Cruise for $ 2.25 billion.
Honda's investment value Cruise is $ 14.6 billion - about one-third of GM's market cap, $ 48.5 billion GM acquired the startup located in San Francisco for $ 1 billion in March 2016. By comparison, analysts have valued the $ 180 billion worth of Vemo self-driving unit worth alpha-up ink. Honda has discussed the possible collaboration with Vemo for two years, but no deal has been done. In the media briefing on Wednesday, GM Chairman Dan Amman said that 2019 "targets have been made" for launching a self-driving ride service for GM Cruise. He further said: "With our long association with Honda, we will be allowed to move forward very fast in our efforts." GM Cruz and Vemo are often described as packs of techniques and auto companies who compete to create and integrate driving cars themselves. Ride them in the services fleet BMW, which is a development partnership with suppliers Intel Corp (INCTOO), Epitiv PLC (APTVVN) and Magna International (MGTO), hopes that some rivals and riding services companies will join their union for the development of driving cars themselves. Board Member Klaus Frohelich said that the pressure on the auto industry's profits is increasing.
At the Paris Auto Show on Wednesday, heads of Daimler AG (DAIGNE) and Renault (RNAAPA) said that both companies could extend their cooperation with batteries, self-driving vehicles and mobility services.
GM-Honda's announcement is in partnership, in which 2020 includes the combined development of electric vehicles with hydrogen fuel cells. In June, Honda also said that he would buy advanced batteries from GM, which can significantly reduce this step, both automakers cost future electric vehicles