The automaker's lackluster performance in profit margin and free cash flow leads the credit rating agency to relegate Ford's debt to junk status.
The $7 billion merger continues the trend of auto parts suppliers bulking up in the race toward autonomous vehicles.
The moves are part of GM's effort to position itself for a future of electric and autonomous vehicles.
The collaboration could boost Ford's efforts to develop commercial uses for self-driving technology.
“Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead."
The automaker says Strobe's LIDAR sensors are a "game changer" in its effort to deploy large fleets of self-driving vehicles.
How much do you know about autonomous vehicles and other technology advancements in the automobile industry?
The automotive supplier is spinning off its powertrain business so it can focus on technology for autonomous vehicles.
