GM, Honda team up to produce self-driving vehicles

General Motors and Honda are teaming up on self-driving vehicle technology as big automakers and tech giants race to develop the next generation of personal transportation.

Japan's Honda Motor Co. will invest $2.75 billion in the autonomous vehicle unit run by General Motors Co., called GM Cruise, which is considered a leader in the nascent industry.

The goal, the companies said is to develop an autonomous vehicle that can be produced at a high volume and deployed globally. They will also explore commercial ways to use the Cruise network around the world.

The partnership comes as the main players in the autonomous vehicle space shift their focus from developing the technology to figuring out how to make the systems safer and more affordable.