Walmart invests in GM's self-driving car company, Cruise
CNN
Walmart is investing in GM's self-driving vehicle company, Cruise, as it works to build out its delivery network.
The size of the investment was not disclosed, but it is less than $750 million, as Cruise said its more than $2 billion funding round expanded to $2.75 billion when Walmart and institutional investors joined. Cruise said it is valued at more than $30 billion. The companies already have a partnership in Scottsdale, Arizona that will test deliveries to customers with Cruise's electric, self-driving vehicles "soon," according to Walmart (WMT). Walmart has targeted zero emissions by 2040, and was drawn to Cruise's electric fleet, the company said, which is primarily made up of all-electric Chevy Bolts.
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