DETROIT—The automotive industry is placing its biggest bet yet that using a device to hail a ride—with or without a driver—is the future of transportation.
General Motors Co. said Monday, Jan. 4, that it is investing $500 million in ride-hailing company Lyft Inc. and forming an unprecedented partnership that could eventually lead to on-demand, self-driving cars. It’s the largest investment yet by a traditional automaker in a new mobility company, and is an acknowledgement by GM that the transportation landscape is changing fast.
“We see the world of mobility changing more in the next five years than it has in the last 50,” GM President Dan Ammann told The Associated Press in an interview.
GM made the investment as part of a $1 billion round of fundraising by Lyft.
