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GM seeks to milk Cruise wing, following SoftBank investment

General Motors (GM) has become the pacemaker for self-driving among automakers, with only Google’s Waymo clearly ahead in terms of investment and technology breadth. The position looks even stronger for GM than it did a month ago before announcing that Japan’s Softbank had invested a total of $2.25 billion in GM’s Cruise self-driving subsidiary. That was motivated partly by GM’s perceived lead in the race to bring robo taxis, that is shared autonomous cars, to market at significant scale. But even more welcome for GM than that huge amount of cash was the dramatic increase in Cruise’s valuation it represented. Analysts had previously put that at around $4 billion, but Softbank rated it at almost $11.3 billion since it was…

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