The concept of self-driving cars, also known as autonomous cars, has become one of the hottest topics for traffic regulators and motorists in the world today. Promising to deliver absolute road safety, as well as a hassle-free traveling experience, self-driving cars are now being developed for the benefit of the consumers. Now General Motors and Lyft join hands to develop their own offering to fundamentally shift the way travelers get around.

General Motors is known to be one of the world's largest car manufacturers. Lyft, on the other hand, has its name established in the world of ride hailing. Now the companies are teaming up to develop driverless cars, bringing a significant partnership that could easily boost both of their fortunes as well.

General Motors has invested US$500 million in Lyft. The former will be providing vehicle rentals, as well as its OnStar network, to drivers on Lyft's side, while the latter will be offering benefits to General Motors drivers, which would likely be via trips for car owners. Furthermore, both companies are also planning to develop a network of on-demand self-driving cars by General Motors that would most presumably provide rides to people in the future.

According to reports, the partnership will significantly raise Lyft's value, giving it a leg-up against Uber, which also happens to be developing its own autonomous vehicles. However, Lyft will be having the expertise of General Motors in its plans to give it an edge over its competitors. "We see the future of personal mobility as connected, seamless and autonomous," said GM President Dan Ammann. "With GM and Lyft working together, we believe we can successfully implement this vision more rapidly."

The concept of self-driving cars is now taking shape, all thanks to Google's autonomous cars bringing it into light with the Google Car. Furthermore, Uber and Mercedes have also jumped on the bandwagon, and Lyft hopping in as well would take the concept further.