Honda likes what GM Cruise LLC is doing, and wants it to have some cash. On Wednesday, the Japanese automaker announced it would invest $2.75 billion in the GM-owned autonomous driving company, hoping to reap some of the reward of its purpose-built self-driving car.

While still under development, Cruise claims the vehicle — free of such things as a steering wheel or pedals — will arrive in 2019. Already, the company has a fleet of modified Chevrolet Bolts operating as testbeds for the technology. Once unveiled, GM Cruise plans to use the vehicle in a new ride-hailing service while also making it available to others, potentially funneling big bucks into its parents’ coffers. Honda’s, too. (Read More…)