Ride-sharing service Lyft has rejected a takeover bid from General Motors, according to Silicon Valley news site The Information.
The move would have turned the country’s biggest automaker into an even bigger player in the fast-growing field of alternative mobility. GM already holds a 9% stake in Lyft and also owns San Francisco based competitor Sidecar. It has also dipped its toes into the world of car-sharing, as well.
Neither GM nor Lyft will comment on the report by The Information and a second Silicon Valley news service. But sources reportedly include a “person briefed on the situation,” and comes a year after Lyft went looking for a possible buyer.