General Motors made an enormous investment into Lyft to the tune of $500 million nearly two years ago. Since then, both companies have waded into new territory to expand their own self-driving car and ride-hailing businesses. That’s made the two companies’ relationship a bit complicated.
Automotive News reported on Monday that GM hasn’t defined the path forward with Lyft just yet, according to Dan Ammann, GM President. Ammann is also a Lyft board member and was an instrumental figure in the $500 million investment. Ammann said despite the complications along the way, the investment was a good one. He called it “constructive” and said GM’s received about a 50 percent return thus far.
The complications come as GM and Lyft both work with rival companies. GM began a pilot program with Uber earlier this year, which has since expired; Lyft received investments from Alphabet and Ford to also commercialize self-driving cars. GM admitted the partnership was never exclusive, but the automaker hasn’t made any further investments into Lyft, either. If anything, Ammann said the knowledge and insight gained from Lyft’s business and operation have made been worthwhile.
“We have worked together on a number of projects and initiatives, where I think everybody has learned and continues to learn from those endeavors,” he said.