Today, General Motors and Lyft announced that they are partnering to develop a network of self-driving cars.
As part of the announcement, San Francisco-based ridesharing company Lyft announced a $1 billion series F funding round, led by $500 million from Detroit-based General Motors, valuing the Uber competitor at $5.5 billion.
“We see the future of personal mobility as connected, seamless and autonomous,” says GM President Dan Ammann, in a written statement.
“Together we will build a better future by redefining traditional car ownership,” says John Zimmer, president and co-founder of Lyft.
The news comes on the heels of rumors that Google and Ford will be announcing a partnership to create a fleet of autonomous vehicles.
Also part of the partnership, Lyft and General Motors will work together to develop a network of hubs around the U.S. where people can rent cars, according to the joint statement. The goal is to make it possible for drivers to share rides without having to own a car.
“Together we will build a better future by redefining traditional car ownership,” says John Zimmer, president and co-founder of Lyft.
