General Motors, and Cruise, a driverless car unit of GM, announced that it’s teaming up with Honda to work on a large-scale deployment of autonomous vehicle technology.
The partnership looks to build autonomous cars “for Cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment”. The deal also looks to explore opportunities to expand the Crusie network around the globe.
As part of the partnership, Honda looks to contribute $2 billion over a 12 year period towards the initiatives. It has also contributed a “$750 million equity investment in Cruise” which brings Honda’s “total commitment to the project to $2.75 billion.”
The deal values Cruise, which was acquired by GM in 2016, at $14.6 billion.
Visa Joins Forces with Postmates
Visa announced that it has entered into an agreement with the on-demand delivery company, Postmates, to enable fast fund disbursements to the entire Postmates fleet.
Fund disbursements will be made through Visa Direct which is Visa’s real-time push payments platform.
The new feature called Postmates “Instant Deposits” will provide more than 200,000 postmates with the convenience of real-time access to their earnings “as opposed to waiting 4-7 business days to receive payouts”.
Wayfair Plans to Launch Pop-up Retail Stores
The online eCommerce company announced that it plans to open pop-up stores on November 1st.
The stores will be launched in “Natick Mall in Natick, Massachusetts and the Westfield Garden State Plaza in Paramus, New Jersey”.
The stores will feature home design experts who will be able to answer questions, provide recommendations on products, and share insights on new home solutions.
The move comes at a time when several online retailers are taking steps to open up physical locations as a way to differentiate itself from its competitors and offer a unique customer experience.