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General Motors will invest $500M in Lyft for on-demand autonomous vehicles in the US

Published: January 05, 2015 | Detroit, MI

General Motors and Lyft announced a long-term strategic alliance to create an integrated network of on-demand autonomous vehicles in the U.S. Under the agreement, GM will invest $500 million in Lyft to help the company continue the rapid growth of its successful ride-sharing service. In addition, GM will hold a seat on the company’s board of directors. 

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John Zimmer, president and co-founder of Lyft, said: “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 wide portfolio of 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.

GM’s chief Mary Barra will present a keynote address on future mobility ( alternated, shared and autonomous) at CES this week. 

Source: GM

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