Around the Net

Toyota Subsidiary Acquires Lyft's Autonomous Vehicle Division

Lyft is selling its autonomous vehicle division to Woven Planet Holdings, a subsidiary of Toyota, for $550 million in cash. “The deal, which is expected to close in the third quarter of 2021, brings to an end Lyft’s four-year journey toward developing and deploying its own self-driving cars,” per The Verge. “The company follows its rival Uber in off-loading its costly autonomous vehicle division in a bid to stop losing so much money. Last year, Uber sold its AV project to Aurora, a startup founded by the former head of Google’s self-driving project.”

Read the whole story at The Verge »

Next story loading loading..