GM accelerates in race toward self-driving cars with acquisition

Car giant General Motors plans to acquire autonomous vehicle technology vendor Cruise Automation in an effort to accelerate its efforts to develop self-driving capabilities.

GM, which manufactures Chevrolets, Buicks, Cadillacs and other vehicles, is interested in Cruise Technology for its "deep" software expertise and rapid development capabilities, the car maker said Friday. Cruise will give GM an "unmatched" tech advantage, Mark Reuss, the company's vice president for global product development, said in a statement.

GM has made a big push into self-driving technology in recent months. Since the beginning of the year, the company has established a new unit for autonomous vehicle development and invested $500 million in Lyft in a partnership to create a network of on-demand autonomous vehicles.

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