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Microsoft (MSFT) Invests in Self-Driving Electric Car Venture

Post Date: Thursday, January 21, 2021

Microsoft Corporation (MSFT) has "entered a long-term strategic relationship" with General Motors Company (GM) and Cruise LLC, a company developing self-driving electric vehicles that is majority-owned by GM. Cruise CEO Dan Ammann stated: "Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles.In addition to supplying Cruise with key technologies, Microsoft also is making an undisclosed equity investment in the venture, joining in a round of funding that will raise $2 billion in total. This round of funding will raise the total valuation of Cruise to $30 billion.Read More..