Hyperdrive
GM’s Cruise Offers Driverless Rides, Triggering SoftBank Funds
- Startup to get $1.35 billion after launching new service
- Public can ride free while Cruise seeks regulatory approval
A volunteer loads bags of food into a Cruise LLC self-driving training car at the San Francisco-Marin Food Bank in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Cruise LLC, the self-driving car startup that is majority owned by General Motors Co., said it’s offering free rides to non-employees in San Francisco for the first time, a move that triggers another $1.35 billion from investor SoftBank Vision Fund.
Cruise started its autonomous ride-hailing service in San Francisco for employees more than a year ago and is waiting on regulatory approvals to charge fares. In the meantime, Cruise is offering free rides and will start a waiting list.