GM Invests $500 Million in Lyft

#Future

Tue, Jan 5th, 2016 10:00 by capnasty NEWS

On the race to provide self-driving cars on demand, General Motors has invested $500 millions in Lyft, the ride-hailing service. In similar news, Audi has also invested $28 million in Silvercar, a car-rental company that only offers silver Audis, calling it the future of mobility.

G.M.’s support includes more than financial backing. As part of the investment into Lyft, G.M. will work on developing a so-called autonomous on-demand network of self-driving cars, an area of research to which companies like Google, Tesla and Uber have all devoted enormous resources in recent years.

G.M. will also work with Lyft to set up a series of short-term car rental hubs across the United States, places where people who do not own cars can pick up a vehicle and drive for Lyft to earn money. [...]

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