Microsoft joins GM, Cruise self-driving partnership

January 20, 2021
1 minute read

Equity partnerships have for ages been key drivers of business development and expansion plans by business entities.

Self-driving car maker Cruise and majority shareholder General Motors have announced that they would partner with Microsoft to accelerate the commercialisation of driverless vehicles.

Cruise will partner Microsoft to use its cloud computing platform and rely on its expertise in digitisation initiatives. These digitisations efforts will include the use of artificial intelligence to roll out its expansion plans. Microsoft will in exchange take an equity stake in Cruise.

Microsoft is joining automotive industry heavyweights such as General Motors, Honda and other institutional investors in a combined new equity investment of more than $2 billion, making Cruise market evaluation to reach $30 billion.

Cruise shares went up by 10% following the news hitting a post-bankruptcy record high.

January 20, 2021
1 minute read

Patrick Mumbi

Patrick Mumbi is currently the Content Administrator at Hive Digital Media. Trained as a Journalist, he carries wealth of experience having worked across the media spectrum in print, electronic and currently in the digital media space. Patrick's current responsibilities include writing commercial content and most importantly ensuring quality control is achieved on internal and external content which gets published on various platforms.
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