General Motors will invest $ 500 million in the Lyft Inc. company

General Motors will invest $ 500 million in the Lyft Inc. company

05.01.2016 News

The General Motors company will invest in the owner of taxi service the Lyft Inc. about  $ 500 million. The plans of General Motors in the future are to increase the investment to $ 1 billion.

After the transaction,  the General Motors will get a seat on the board of directors of Lyft Inc. and access to the software.

In addition to General Motors, other companies  from  Japan and Saudi Arabia also will act as investors of Lyft Inc. .  Lyft Inc. expects to receive $ 5.5 billion.

Partnership of General Motors  with Lyft Inc. involves long-term cooperation and joint development of advanced projects that will have great success among consumers in the future. One of the ideas is to create an Autopilot taxi service.

Also, General Motors will rent to drivers of Lyft Inc. their cars, a large network of car rental will be opened in the United States for this.

Representatives of  General Motors company said in an interview that they chose to invest promising company that owns the application for a taxi Lyft Inc., because it is growing rapidly, and cooperation with it may bring good profits to  both companies.

According to analysts, such cooperation will be a big push forward for the Lyft Inc. company, in addition to the expected profit, the company will be able to get a great experience of General Motors auto group, which  history extend back over 100 years.

General Motors is the largest USA company, which was established in 1908 and until 2008 maintained the place of the largest automaker in the world. According to data for 2014, the company took the 3rd  place for the sale of cars in the world (9.92 million.)  Cars are manufactured in 35 countries, sales are carried out in 192 countries.

Source: korrespondent.net

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