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AP Photo/Koji Sasahara, File TOKYO (AP) — 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 technology. 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 upfront, and $350 million over a five-year period, according to Toyota. The Wov...

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...

In this November 2, 2020, file photo, visitors walk at a Toyota showroom in Tokyo. Toyota Motor Corp. has acquired the self-driving division of American ride-hailing company Lyft for $500 million, in a move that underlines the Japanese automaker’s ambitions in that technology, announced Tuesday, April 27, 2021. (AP Photo/Koji Sasahara, File) Toyota Motor Corp. has acquired the self-driving division of American ride-hailing company Lyft for US$550 million, in a move that highlights the Japanese automaker’s ambitions in that technology. The acquisition, announced Tuesday, was carried out by...

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 technology. 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 upfront, and $350 million over a five-year period, according to Toyota. The Woven Planet project will bring...

Lexus LS, Toyota Mirai get new advanced technologies Lexus LS, Toyota Mirai get new advanced technologies Share But the introductions also underscore Toyota’s cautious, go-slow approach. The system will be available only in Japan for the time being, though it comes to the U.S. in the LS this fall. And it will be limited to the two top-tier offerings of the Lexus and Toyota brands, for now. The new technology also is expensive, adding some $6,000 to the LS sticker in Japan. Toyota Chief Digital Officer James Kuffner called the development a key move by Toyota toward programmable cars....