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 Woven Planet with its system and fleet data, and the two will continue to work together to commercia...
Source: thenewswheel.com