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General Motors signs key deal with Lyft

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In an effort to create an integrated network of on-demand autonomous vehicles in the U.S., General Motors has entered a long-term strategic alliance with Lyft. The automaker will invest $500 million in Lyft to help the company continue the rapid growth of its successful ridesharing service.

A key element of the GM and Lyft alliance is the joint development of a network of on-demand autonomous vehicles that will leverage GM’s deep knowledge of autonomous technology and Lyft’s capabilities in providing a broad choice of ridesharing services.

Beginning immediately, GM will also become a preferred provider of short-term use vehicles to Lyft drivers through rental hubs in various cities in the U.S.

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