Newspaper article St Louis Post-Dispatch (MO)

GM Invests $500 Million in Lyft

Newspaper article St Louis Post-Dispatch (MO)

GM Invests $500 Million in Lyft

Article excerpt

DETROIT * The automotive industry is placing its biggest bet yet that using a device to hail a ride with or without a driver is the future of transportation.

General Motors Co. said Monday it is investing $500 million in ride-hailing company Lyft Inc. and forming a partnership that could eventually lead to on-demand, self-driving cars. It's the largest investment yet by a traditional automaker in a new mobility company.

Together, the companies plan to open a network of U.S. hubs where Lyft drivers can rent GM vehicles at discounted rates. That could expand Lyft's business by giving people who don't own cars a way to drive and earn money through Lyft.

Longer term, GM and Lyft will work together to develop a fleet of autonomous vehicles that city dwellers could summon using Lyft's mobile app. …

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