Does GM own cruise?

DETROIT — Today, General Motors Co. (NYSE: GM) announced it is acquiring SoftBank Vision Fund 1’s equity ownership stake in Cruise for $2.1 billion and separately will make an additional $1.35 billion investment in Cruise, replacing a previous commitment made by the fund in 2018.

Will GM be able to make $50 billion from cruise?

The launch of the Cruise Origin will be postponed until 2024. However, its goal of $50 billion in revenue from Cruise is still possible. With its stock price down to less than $27 and a P/E of 3.8X, GM represents a unique long-term investment opportunity, which will pay off multiple times when Cruise is successfully launched.

Is GM stock a good investment?

Despite these setbacks, autonomous ridehailing services are still expected to be a very large market, with Cruise potentially leading. General Motors's revenue forecast from Cruise may be delayed, but the goal of $50 billion in revenue is still possible. GM stock represents a long-term investment opportunity.