Published on January 5th, 2016 | by Subhash Nair0
General Motors Invests Half a Billion Dollars in Self-Driving Taxis
General Motors and Lyft today announced a long-term strategic alliance to create an integrated network of on-demand autonomous vehicles in the U.S.
GM will invest $500 million in Lyft to 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.
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.