UPDATE 3-GM's Cruise gets $1.15 bln new cash from T. Rowe Price, SoftBank

General Motors Co's majority-owned Cruise self-driving division said on Tuesday fund manager T. Rowe Price and a group of existing investors put down $1.15 billion in new equity, valuing the unit at $19 billion. Funding for Cruise comes weeks after T. Rowe Price said https://reut.rs/2JnjVHv it has sold 92 percent of its stake in Tesla Inc. The latest funding for Cruise includes existing investors General Motors, Japan's SoftBank Vision Fund and Honda Motor Co Ltd, and should give the firm much-needed cash as it aims to launch vehicles by the end of 2019.

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