GM to invest $500 million in Lyft

GM to invest $500 million in Lyft

Companies plan to advance autonomous ride-sharing systems.

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January 6, 2016

San Francisco, California – General Motors is investing $500 million in car-sharing service Lyft to develop an integrated network of on-demand autonomous vehicles in the U.S. GM will hold a seat on Lyft’s board of directors.

“We see the future of personal mobility as connected, seamless and autonomous,” says GM President Dan Ammann. “With GM and Lyft working together, we believe we can successfully implement this vision more rapidly.”

John Zimmer, president and co-founder of Lyft, says, “Working with GM, Lyft will continue to unlock new transportation experiences that bring positive change to our daily lives. Together we will build a better future by redefining traditional car ownership.”

Key elements of the GM and Lyft alliance include:

  • Autonomous on-demand network: The joint development of a network of on-demand autonomous vehicles will leverage GM’s deep knowledge of autonomous technology and Lyft’s capabilities in providing a broad choice of ride-sharing services.
  • Rental hub: Beginning immediately, GM will become a preferred provider of short-term use vehicles to Lyft drivers through rental hubs in various cities in the U.S.
  • Connectivity: Lyft drivers and customers will have access to GM’s cars and OnStar services, leveraging two decades of experience in connectivity. This will create a richer ride-sharing experience for both driver and passenger.
  • Joint mobility offerings: GM and Lyft will also provide each other’s customers with personalized mobility services and experiences through their respective channels.

Source: General Motors