WALMART INVESTS IN GM’S CRUISE AUTONOMOUS VEHICLE SUBSIDIARY

Walmart and some institutional investors have joined the latest investment in Cruise, bumping the capital influx into the General Motors autonomous vehicle subsidiary from over $2 billion to $2.75 billion.

Walmart and Cruise announced a partnership last fall to launch a self-driving delivery test in Phoenix.

“The investment will aid our work towards developing a last mile delivery ecosystem that’s fast, low-cost and scalable,” Walmart CEO John Furner said in a statement.