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GM Buys SoftBank’s $2.1 Billion Stake in Cruise Self-Driving Unit

  • Carmaker also makes good on $1.35 billion pledged by SoftBank
  • Greater control over self-driving unit follows CEO shuffle
A Cruise vehicle in San Francisco, California.

A Cruise vehicle in San Francisco, California.

Photographer: David Paul Morris/Bloomberg
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General Motors Co. bought out the SoftBank Vision Fund 1’s stake in self-driving startup Cruise LLC for $2.1 billion, ending the Japanese investment firm’s involvement in the business and giving the Detroit automaker 80% ownership.

GM also said Friday it will invest another $1.35 billion in Cruise, which makes up for the amount that SoftBank had pledged to invest in the startup once the company deploys vehicles in a ride-sharing business, something it is preparing to do.