GM, Lyft set out self-driving car partnership, $500 million investment

January 4, 2016 7:59 PM

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SAN FRANCISCO General Motors Inc (GM.N) and Lyft Inc on Monday set out plans to develop an on-demand network of self-driving cars as the U.S. No. 1 automaker announced it would put $500 million into the ride-sharing service's latest $1 billion fund-raising round.

The Detroit-Silicon Valley crossover deal comes as automakers are working 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 automotive industry.

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