Walmart Invests in Cruise
BENTONVILLE, AR - Walmart is expanding a partnership it announced last November, in which the retailer declared it was partnering with General Motors’ electric self-driving cars from Cruise. Walmart is furthering its investment in the company in the hopes of building out its last-mile delivery strategy—a high-stakes game in grocery and retail alike.
“As delivery has become a staple in our customers’ lives, we’re focused on growing our last mile ecosystem in a way that’s beneficial for everyone: customers, business, and the planet,” said John Furner, President and CEO. “With their all-electric fleet powered by 100 percent renewable energy, Cruise is a natural partner as we work to take collective action on climate change.”
According to a press release, Cruise’s differentiated business model, unique technology, and competitive driverless testing were key factors that prompted Walmart to make this investment. When the two formed this partnership, they were working to develop a delivery pilot in Scottsdale, Arizona.
“This investment is a marker for us, it shows our commitment to bringing the benefit of self-driving cars to our customers and business,” Furner added. “We’re excited to join Cruise’s already impressive partner and investor ecosystem with the likes of GM, Honda, and Microsoft as we work toward pioneering this emerging technology.”
To read about this investment in full, please click here.
We will continue to report on how this investment bolsters Walmart’s ability to hold onto its market share in the grocery delivery sector, so stay tuned.