Walmart invests in GM’s Cruise autonomous vehicle subsidiary

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

Walmart CEO John Furner says Cruise will help the retail giant with an autonomous delivery system that is fast and scalable.

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

Honda and Microsoft are among other investors with a a stake in Cruise.

Furner says Cruise’s fleet of all-electric vehicles will help the retailer reach a goal of zero emissions by 2040.

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