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.
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
