Lyft Is Selling Its Autonomous Vehicle Division To Toyota
Less than a half year after Uber offloaded its self-driving tech improvement unit, Lyft is dumping its own as well. Lyft is offering its self-driving unit to Woven Planet, an auxiliary of Toyota, in a money bargain worth $550 million, the two organizations declared on Monday evening. The arrangement, which comprises $200 million forthright and the rest throughout the following five years, takes Lyft's self-driving tech improvement costs off its records and furthermore secures Woven Planet to an organization that will see the auxiliary utilizing Lyft's foundation to market and deal with its future robotaxi administrations. The securing will see Lyft's current self-ruling vehicle improvement group, known as Level 5, move under Woven Planet Holdings' umbrella; Lyft's own shopper experience and armada supervisory crew zeroed in on AV will remain in-house, rebranding from Lyft Open Platform to Lyft Autonomous. "Not exclusively will this exchange permit Lyft to ...