General Motors is serious about gaining a foothold in the ride-sharing industry. Not only has the company established its own car-lending app and purchased the defunct Uber competitor, Sidecar — but according to The Information, it’s also been toying with the idea of buying Lyft. An interesting idea, but it isn’t happening. Sources familiar with the matter say that car-hailing service has already turned GM down.
If GM were to buy its way into the on-demand driver industry, Lyft would be the obvious choice: the company has already has $500 million invested in the company as part a partnership to build an self-driving taxi service. Sources from both The Information and TechCrunch say GM went as far as to put money on the table, but to no avail. For now, Lyft is holding fast to its independence.
Source: The Information