- The fund will invest in GM Cruise Holdings LLC in two phases, with $1.35 billion being conditional on the carmaker's autonomous-driving unit starting to deploy vehicles next year. Once Softbank has completed the entire investment, it'll own 19.6 percent of GM Cruise, the holding company for Cruise Automation, giving the unit a valuation of $11.5 billion.
- An additional $1.1 billion investment by GM will boost the total injection for Cruise to $3.35 billion. The automaker's shares surged as much as 7.4 percent in early trading.
- The GM and SoftBank Vision Fund investments are expected to provide the necessary capital to reach commercialization of autonomous vehicles "at scale" beginning in 2019, GM said.