GM Invests $500 Million in Lyft, Plans System for Self-Driving Cars – Wall Street Journal

Posted: Monday, January 04, 2016

General Motors Co. is betting $500 million that ride-hailing services such as Lyft Inc. will be crucial to the future of autonomous vehicles.

The auto maker has invested that sum in Lyft as part of a new $1 billion round of funding, the companies said Monday. Saudi Arabia’s Kingdom Holding Co., Janus Capital Management and Japanese e-commerce major Rakuten Inc. also contributed to the financing, which values Lyft at $5.5…

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