ONLINE BANKING
Access ID:
Pay Online Button
Apply Now Button

GM's partnership with Silicon Valley part of a growing trend

Posted on Tuesday, March 15, 2016 at 10:25:08 AM

It is an exciting time for the automotive and technology industries. On March 11, General Motors announced that it would acquire Cruise Automation, a Silicon Valley startup founded in 2013 that specializes in autonomous driver technology, according to Forbes. GM wasn't done though.

A few days after the Cruise announcement, the American automaker said that it would pair with the ride-hailing company Lyft to launch a short-term rental program for Chicago Lyft drivers using a fleet of 125 Chevrolet Equinoxes, Automotive News reported.

Named Express Drive, the program will rent Chevy vehicles to Lyft drivers for a number of weeks. Maintenance and insurance are cost-free. GM and Lyft said that other cities like Boston and Baltimore would see Express Drive's arrival shortly.

In an interview with Automotive News, Lyft President John Zimmer said that his company's partnership with GM opened up opportunities for drivers and customers that other companies like Uber couldn't match. With a hundred plus GM vehicles to rely on, more drivers can work for Lyft and expand the customer base.

This development is just the most recent in a wave of auto-tech partnerships that have emerged in the last year or two. After a long-lasting competitive standoff, the two industries are coming together in an unprecedented way. Needless to say, it's an exciting time to be a car driver. So long as you have auto financing, you too can be a part of the cutting edge.