Walmart investing in GM's Cruise self-driving car company

, GM, which acquired Cruise in 2016, and other institutional investors. Cruise declined to breakdown the new funding by company. It brings Cruise's valuation to more than $30 billion.

"Self-driving cars will make transportation safer, cleaner and more accessible for everyone," Cruise CEO Dan Ammann said in a statement. "Making this happen requires a clear mission, world-class talent, great partners and a lot of capital." Commercializing autonomous vehicles has been far more challenging than many predicted even a few years ago. The challenges have led to a consolidation in the autonomous vehicle sector after years of enthusiasm touting the technology as the next multitrillion-dollar market for transportation companies., have given up on developing the systems in-house, while others such as Zoox sold to Amazon.

The announcements this week are significant for Cruise, which has been concentrating its self-driving vehicle

Smart initiative by Walmart 👌

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