General Motors Invests In Autonomous Car Radar Company: Reuters

General Motors Co's GM venture capital arm has invested millions of dollars in Oculii, a U.S. startup maker of software for radar sensors used in self-driving cars, Reuters reports. The financial terms of the deal remain undisclosed.
GM can utilize Oculii's low-cost software to boost the resolution of radars and scale up its partially automated vehicles and fully self-driving cars.
Tesla Inc TSLA dropped radar sensors from its volume models this year, alluding to them as "crutches," inviting questions about the safety and performance of its advanced driver assistant system.
Oculii co-founder Steven Hong expected Tesla to adopt radars as the prices have declined. He said that high-resolution radars are a pivotal backup to cameras and other sensors when they fail.
Price Action: GM shares traded higher by 1.88% at $50.42 in the market session on the last check Monday.