Lyft followed $248m in funding last month with a $500m investment by General Motors, and the two have also formed a strategic partnership.
Automotive manufacturer General Motors agreed yesterday to invest $500m in US-based ride hailing company Lyft as part of a strategic alliance to create an on-demand autonomous vehicle network in the US.
Lyft received the money a part of a $1bn round it is raising at a $5.5bn valuation, according to Reuters. GM will take a seat on Lyft’s board of directors.
Founded in 2012, Lyft runs an app-based ride hailing service that acts as Uber’s main competition in the US,…
