Big automakers have spent several years watching their stock prices drift while the valuations of upstarts such as Uber and Tesla soared.
This week the automotive empire struck back at the would-be disruptors of its century-old business model.
On Monday, General Motors said it would invest $500 million in ride-hailing company Lyft, its most aggressive move yet into a future where on-demand ride services threaten to replace auto ownership and robots could unseat human drivers. GM’s move and others underscore Detroit’s determination to battle Silicon Valley for dominance of clean urban transport.
