In an interview with Bloomberg TV, Navigant Research explores the potential market impact of SoftBank’s investment into GM’s cruise unit
On May 31, SoftBank, the Japanese tech investment firm, announced it would spend $2.25 billion for a 20% stake in GM's autonomous vehicle (AV) cruise unit. In a TV interview with Bloomberg, Sam Abuelsamid, senior research analyst with Navigant Research, investigated the impact this major investment may have on the market and AV development.
“[This investment] will allow GM to get up to scale and commercialize its cruise unit faster,” Abuelsamid said. At the same time, SoftBank gains a direct connection to a car manufacturer after having previously invested in various mobility services.
With a lot of focus going toward the technology side of AV development, Abuelsamid argues that there has been less awareness of the auto industry’s own development work. The auto industry does not only bring manufacturing capabilities, but also the knowledge and background with safety systems.
“The technology and the auto industry are starting to converge, and each bring their own strength to the table to collaborate and make these systems viable for real-world use.” said Abuelsamid.