GM-backed Cruise secures $5 billion credit line as it prepares to launch self-driving robotaxis
Cruise, a majority-owned subsidiary of General Motors, has secured a new $5 billion line of credit as it prepares for commercialization of an autonomous ride-hailing business.The new credit is being provided by GM's automotive financing arm to use for the purchase of Cruise's self-driving Origin shuttles.This past month, GM began assembly of 100 pre-production Cruise Origin vehicles that will be built this summer for validation testing.Cruise, a majority-owned subsidiary ofGeneral Motors, has se
