Automaker GM announce $500m investment, strategic alliance with Lyft

Automaker GM announce $500m investment, strategic alliance with Lyft

Dan Ammann, President of General Motors, poses after news conference in Sao Paulo July 28, 2015. REUTERS/Nacho Doce

General Motors Inc and Lyft Inc Monday announced an alliance to develop an on-demand network of autonomous vehicles as well as a $500 million investment by the automaker as part of a $1 billion fund-raising round by the ride-sharing service.

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