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Honda acquires $2.75bn stake in General Motors Cruise autonomous vehicle unit

The company has agreed to pay $750mn in advance for the minority stake in Cruise and will also contribute another $2bn over the next 12 years.

As part of the deal, Honda, GM and Cruise will develop autonomous vehicles in a joint venture with the aim of deploying ride services fleets around the world.

In a media briefing on Wednesday (3rd October), GM President Dan Ammann announced that 2019 remains the target for GM Cruise to unveil an autonomous ride services fleet.

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