With the likes of Google moving into the auto industry by way of autonomous driving tech, General Motors (GM) has bet big on Lyft. The carmaker will invest US$500 million to help grow the ride-sharing service. The "long-term strategic alliance" will include the development of autonomous vehicles.

"We see the future of personal mobility as connected, seamless and autonomous," says GM president Dan Ammann. "With GM and Lyft working together, we believe we can successfully implement this vision more rapidly."

The agreement doesn't just cover the joint development of autonomous vehicles, but of of a network of on-demand autonomous vehicles. According to GM, the network will be built upon its own knowledge of autonomous technology and upon Lyft's ride-sharing service capabilities.

In addition, GM will become a preferred provider of vehicles for short-term rental by Lyft drivers from hubs across the US, while Lyft drivers and customers will be able to access GM's wide range of vehicles and its OnStar services. The aim these benefits is to help create a "richer ride-sharing experience for both driver and passenger."

Elsewhere, the companies will provide each others' customers with "personalized mobility services and experiences."

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