GM invests $500m in Lyft

General Motors has announced what it calls a "long-term strategic alliance" with ride-hailing app Lyft in order to "create an integrated network of on-demand autonomous vehicles in the U.S."

As part of the tie-up, GM is investing US$500 million in Lyft which it says will "help the company continue the rapid growth of its successful ridesharing service".  In addition, GM will hold a seat on the company's board of directors.

'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.'

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.'

In a statement, the companies listed the key elements of the alliance:

• 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.

The picture shows General Motors President Dan Ammann (centre) with Lyft co-founders John Zimmer (right) and Logan Green (left) - source GM website.