Exclusive: US panel clears SoftBank's US$2.25 billion investment in GM's Cruise

REUTERS: Cruise, a U.S. self-driving vehicle company majority-owned by General Motors Co, told Reuters on Friday that a U.S. national security panel approved a US$2.25 billion investment in the firm by Japan's SoftBank Corp.

The approval unlocks a seat for SoftBank on Cruise's board, formalizing its oversight, and cements key financing for Cruise, which has raised US$7.25 billion in capital since last year, the company said. The committee, emboldened by a law last year aimed at strengthening the inter-agency panel, has flexed its muscles increasingly against Chinese companies as Beijing and Washington remain locked in heated trade and technology row.

However, the Japanese firm separately announced a joint investment with GM, T. Rowe Price, and Honda of US$1.15 billion earlier this year, further boosting its stake.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Exclusive: US panel okays SoftBank's US$2.25 billion investment in GM-linked self-driving firmA U.S. national security panel on Friday approved a US$2.25 billion investment by Japan's Softbank in Cruise, a self-driving vehicle firm ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »

Exclusive: US panel okays SoftBank's US$2.25 billion investment in GM-linked self-driving firmA U.S. national security panel on Friday approved a US$2.25 billion investment by Japan's Softbank in Cruise, a self-driving vehicle firm ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »

Deutsche Bank's investment bank chief exits in unfolding multi-billion dollar overhaulFRANKFURT: The head of Deutsche Bank's investment bank agreed to step down on Friday in a sign of the division's waning influence as Germany's ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »