NEW YORK — General Motors (GM) invested $500 million in Lyft as part of the ride-hailing services latest round of venture financing, which totaled $1 billion overall, The New York Times reported.
As part of the investment into Lyft, GM will work on developing an autonomous, on-demand network of self-driving cars. GM will also work with Lyft to set up a series of short-term car rental hubs across the U.S., places where people who do not own cars can pick up a vehicle and drive for Lyft to earn money. For the full story, click here.
