General Motors just made a sizable bet on the future of ride-sharing, to the tune of a half billion dollars.
The automaker announced today that it’s investing $500 million in Lyft, the ride-sharing app with the cloying pink mustache logo, establishing “a long-term strategic alliance to create an integrated network of on-demand autonomous vehicles in the U.S.”
As GM lays it out, the investment in Lyft will give the ride-sharing startup access to the automaker’s extensive research into autonomous-car technology. The newly forged partnership also makes GM a “preferred provider of short-term use vehicles to Lyft drivers.”
Lyft and GM did not give a time estimate for when they believe the autonomous network will go online. As part of the partnership, GM has secured a seat on Lyft’s board of directors. But it’s the long-term view that seems to be the hook for GM: The automaker and the startup both envision a future where the ride you hail from your smartphone app is completely self-driving. “We see the future of personal mobility as connected, seamless, and autonomous,” GM president Dan Ammann said in the press release. Lyft president and co-founder John Zimmer added, “Together we will build a better future by redefining traditional car ownership.”

General Motors president Dan Ammann (center) with Lyft Inc. co-founders John Zimmer (right) and Logan Green (left).
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