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Wednesday, April 28, 2021 1:00 am Toyota acquires Lyft's self-driving division YURI KAGEYAMA | Associated Press TOKYO – Toyota Motor Corp. has acquired the self-driving division of American ride-hailing company Lyft for $550 million, in a move that highlights the Japanese automaker's ambitions in that tech. The acquisition, announced Tuesday, was carried out by Woven Planet Holdings, a Toyota subsidiary that began business in January and focuses on innovations and investment in projects such as “smart cities,” robotics and automated driving. Of the payment, $200 million will be paid up ...

Toyota pays $550 million for self-driving unit of Lyft PUBLISHED BY Toyota Motor Corp. has bought the self-driving division of ride-hailing company Lyft for $550 million in a move that reflects the ambitions of Toyota to expand into mobility technology. The autonomous driven or robot taxis were supposed to be a reality by 2025, but things have not panned out well for companies that invested in building them. Just recently, Uber sold off its self-driving unit to Aurora for $400 million. The Lyft unit was bought out by Woven Planet Holdings, a Toyota subsidiary that focuses on innovations and...

US ride hailing service Lyft agreed to sell its autonomous driving division to a unit of Japan's Toyota for $550 million, the companies said on April 26. The move follows a similar divestment from Uber last year as the rideshare firms focus on core operations amid struggles during the yearlong coronavirus pandemic.

Toyota Motor Corp (7203.T) will acquire Lyft Inc's (LYFT.O) self-driving technology unit for $550 million, the companies said, as the Japanese firm steps up its automation ambitions with the newly created Woven Planet division.

Lyft Lyft is selling its autonomous business unit to Toyota's Woven Planet, which is a research and investment arm focusing on smart cities and connected cars. Level 5 had been costing the ride-hailing service some $100 million a year, with robotaxis still far on the horizon. Uber recently sold its autonomous research unit as well, signaling that self-driving cars are further in the future than hoped. Just months after Uber parted with its ATG self-driving business unit, Lyft is doing the same, selling its autonomous vehicle research division named Level 5 to Toyota subsidiary Woven Planet. ...