Breaking down barriers: The Lyft deal is one of GM's biggest investments in another company and the largest single cash injection to date by a traditional automaker into a young technology firm.
SAN FRANCISCO: General Motors Inc said it will invest US$500mil (RM2.16bil) in Lyft Inc and laid out plans to develop an on-demand network of self-driving cars with the ride-sharing service.
The biggest single Detroit-Silicon Valley crossover deal to date comes as automakers work out how to respond to the rush of technology companies such as Apple, Alphabet and Uber – Lyft's biggest rival – to control cars of the future and likely reshape the global auto industry.
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