GM Invests $500M in Autonomous Vehicle Partnership

by | Jan 5, 2016

GMGM will invest $500 million in ride-sharing company Lyft to create a network of on-demand autonomous vehicles in the US.

“We see the future of personal mobility as connected, seamless and autonomous,” said president Dan Ammann in a statement. “With GM and Lyft working together, we believe we can successfully implement this vision more rapidly.”

General Motors is one of the top four companies leading the autonomous vehicle technology market, according to Navigant Research. It is also among the companies each investing $1 million over three years in the $20 million University of Michigan Mcity — the world’s first controlled environment designed to test the potential of autonomous vehicle technologies that will lead the way to mass-market driverless cars.

As part of the new agreement with Lyft, General Motors will become a preferred provider of short-term use vehicles to Lyft drivers through rental hubs in various cities in the US. In addition, GM will hold a seat on Lyft’s board of directors.

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