Toyota Acquires Lyft's Self-Driving Division for $550 Million
Toyota Acquires Lyft’s Self-Driving Division for $550 Million Photo: Toyota Toyota’s new tech-focused subsidiary, Woven Planet Group, is acquiring Lyft’s self-driving car division — named “Level 5” after the stages of car autonomy — for $550 million in cash. The deal is expected to close in the third quarter of 2021. Woven Planet will pay the first $200 million upfront and the remaining $350 million over the next five years. As part of the acquisition, Lyft also agreed to provide ...
Source: thenewswheel.com