Walmart invests in self-driving cars company Cruise
Walmart has backed all electric autonomous vehicles venture Cruise.
It has joined a previously announced funding round, bringing the total haul to $2.75 billion.
The retailer says that this will aid its work toward developing a last mile delivery ecosystem that’s fast, low cost and scalable.
Walmart began working with Cruise in November of last year, developing a delivery pilot in Scottsdale, Arizona.
“We’ve been impressed with Cruise’s differentiated business model, unique technology and unmatched driverless testing. We also value our shared commitment to a zero emissions future,” says John Furner, President and CEO, Walmart U.S.
He concludes: “This investment is a marker for us – it shows our commitment to bringing the benefit of self-driving cars to our customers and business.”
“We’re excited to join Cruise’s already impressive partner and investor ecosystem with the likes of GM, Honda and Microsoft as we work toward pioneering this emerging technology.”