General Motors Inc (GM.N) said on Monday it will invest $500 million 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.
I see why GM invested in Lyft, but I’ll be honest, I don’t trust the quality of GM cars or technology. I’d feel much better if it were Mercedes.