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January 4, 2016 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/uR-5xDmDFiE/gm-dumps-500-million-into-lyft
GM Dumps $500 Million Into Lyft
An anonymous reader writes: General Motors has invested $500 million in ride-sharing service Lyft, and also committed resources to develop an on-demand network of autonomous cars. "GM will also work with Lyft to set up a series of short-term car rental hubs across the United States, places where people who do not own cars can pick up a vehicle and drive for Lyft to earn money." Lyft thinks the future of self-driving cars is in a network of vehicles people share, rather than individual ownership. GM, which produces millions of automobiles every year, seems to agree. The money will help Lyft compete with competitor Uber, which has raised over $10 billion in investments already. "The alliance with GM is surprising because automakers could consider ride-hailing companies like Lyft as long-term threats to auto sales. In an interview, [GM president Daniel Ammann] said that GM wanted to be part of the changing business models in transportation."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/uR-5xDmDFiE/gm-dumps-500-million-into-lyft
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