Walmart latest to partner with GM’s Cruise autonomous EV company

Walmart has announced that it has taken an undisclosed stake in GM controlled Cruise LLC. The new investment brings the total funding to $2.75 billion, following sizeable investments from Microsoft, and the recent purchase of Voyage. Cruise states it’s post-investment valuation at more than $30 billion.

Walmart is latest company to invest into the $30 billion autonomous car company. The move will bring retail experience to the venture. Photo courtesy: Cruise LLC

The Walmart investments are in addition to ongoing projects with Alphabet’s (Google) Waymo and Niro Inc. as it’s continues it’s effort to compete head-to-head with Amazon by creating and maintaining several logistics options. It’s internal project, named Spark, is in addition to partnerships with Uber, Lyft and DoorDash for last-mile logistics (from warehouses to homes).

Compete with Amazon remains problematic for Walmart due mostly to the shipping considerations, a key strength of Amazon. The several ongoing projects Walmart are meant to find the cheapest and most effective solution as quickly as possible.

Read more https://www.bloomberg.com/news/articles/2021-04-15/walmart-invests-in-cruise-the-gm-backed-autonomous-car-startup