Lyft's off-ramp leads to General Motors. The No. 2 U.S. ride-sharing service recently rebuffed takeover interest from its 9 percent owner, according to news service The Information. There are good reasons for Lyft to steer clear of Detroit, despite a shared vision for autonomous cars. But cash-flush rivals could yet force the Silicon Valley upstart into GM's lane.
The Chevrolet maker's overture was probably only a matter of time after it paid $500 million for a stake in Lyft in January and took a seat on the board. In March, the companies unveiled a deal to lease GM vehicles to Lyft drivers. They also plan to collaborate on building a fleet of autonomous on-demand vehicles.