Cruise starts pre-production of its autonomous shuttle thanks to $5 billion from GM
Cruise is getting a $5 billion line of credit from General Motors’ financial division as it begins pre-production on its Origin autonomous shuttle. It’s another big infusion of cash for Cruise, arguably one of the better capitalized autonomous vehicle companies in the world.
Cruise CEO Dan Ammann said the new financing “bumps up Cruise’s total war chest to over $10 billion as we enter commercialization.” This will help the company as its fully autonomous shuttles enter series production at the GM Detroit-Hamtramck Plant (rebranded as Factory Zero) sometime in 2022.
Ammann writes in a blog post, “$10 billion. It’s a big number.” “However, when you think about what we’re building — safer, cleaner, and more accessible transportation for…