U.S. National Security Panel Approves $2.25 Billion Investment by Japan’s Softbank Into GM-Owned Self-Driving Vehicle Firm

A U.S. national security panel on Friday approved a $2.25 billion investment by Japan’s Softbank in Cruise, a self-driving vehicle firm majority owned by GM, the unit told Reuters, signaling some leeway for investors with deep ties to China.

The panel, known as CFIUS, approved the investment based on fresh assurances that Cruise’s technology would be completely off limits to SoftBank, whose investments in Chinese mobility firms have rattled U.S. authorities, a source familiar with the matter said.

Additional Reporting by David Shepardson; Editing by Cynthia Osterman

Source: Reuters