GM Invests $500 Million in Lyft

  • Uber's biggest U.S. competitor announces $1 billion financing
  • Lyft, GM to jointly develop a network of self-driving cars

Why GM And Lyft Are Teaming Up

General Motors Co. will invest $500 million in Lyft Inc., giving the ride-hailing startup a valuation of $5.5 billion and a major ally in the global battle against Uber Technologies Inc.

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