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April 28, 2021 WASHINGTON (AFP) – United States (US) ride-hailing service Lyft agreed to sell its autonomous driving division to a unit of Japan’s Toyota for USD550 million, the companies said on Monday. The move follows a similar divestment from Uber last year, with ride-sharing firms focussing on core operations as they struggle during the coronavirus pandemic. The Lyft operation known as Level 5 will be folded into Woven Planet Holdings, a subsidiary of Toyota Motor Corporation, which will create a team of some 1,200 people working on self-driving technology in Japan, the US and Britai...

Lyft has sold its autonomous business unit to a Toyota subsidiary in a drive to cut costs that ran upwards of $100 million per year.

Toyota has bought a Lyft car driving unit for $ 550 million The agreement extends Toyota’s efforts to go beyond mere car manufacturing to other “mobility services”. President John Zimmer of Lift announced in 2016 that “driverless cars” will have an account The majority of Lyft rides in five years ’time,” but the forecast had a very wide mark. Zimmer also predicted that by 2025 “private car ownership will end in major U.S. cities.” In February last year he offered more than Lyft 100,000 “Paid car driving rides” – enough to claim to take on “the largest public car driv...

Lyft has announced Toyota subsidiary Woven Planet is acquiring its self-driving division, Level 5.

Lyft to sell autonomous driving unit for $550 mn to Toyota Issued on: 26/04/2021 - 23:07 Businessman Mark Cuban arrives at the Lyft and Aptiv self-driving car experience during CES 2018 at the Las Vegas Convention Center Bryan Steffy GETTY IMAGES NORTH AMERICA/AFP/File 2 min Washington (AFP) 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 Monday. The move follows a similar divestment from Uber last year as the rideshare firms focus on core operations amid s...