Ride-hailing service Lyft announced yesterday that General Motors recently invested $500 million in the San Francisco-based startup. The investment represents half of Lyft’s latest venture financing round, which values the company at $4.5 billion. GM and Lyft will work together to develop an on-demand network of autonomous vehicles, taking on companies such as Google, Tesla and Uber in the process. In addition, the two companies are planning short-term car rental hubs that would provide work opportunities for potential Lyft drivers who do not have their own vehicles. Continue reading GM Invests $500 Million in Lyft and Partners on New Initiatives