GM Adds Honda to Its Cruise Partnership With SoftBank, Potentially Opening Japan to GM for AVs
We are not changing our fair value estimate for GM or Honda after GM announced Honda is investing in GM's autonomous vehicle subsidiary, Cruise. Honda will invest $750 million for a 5.7% Class E common equity stake in Cruise and Honda will spend another $2 billion over at least the next 12 years to help fund development of a new AV. This AV will be based off an existing GM architecture not yet displayed publicly, will be jointly developed by GM, Cruise, and Honda, and manufactured by GM. This ve...General Motors designs, builds and sells trucks, crossovers, cars and automobile parts. The company also provides automotive financing services through its subsidiary, General Motors Financial Company, Inc. (GM Financial). GM Financial provides retail loan and lease lending across the credit spectrum. GM Financial provides commercial lending products to dealers including new and used vehicle inventory floorplan financing and dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, and to purchase and/or finance dealership real estate. Other commercial lending products include financing for parts and accessories, dealer fleets and storage centers.
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