Lyft is selling its self sustaining car division to Toyota

 Lyft is selling its self sustaining car division to Toyota

Fewer than six months after Uber offloaded its self-utilizing tech building unit, Lyft is ditching its hold too.
Lyft is selling its self-utilizing unit to Woven Planet, a subsidiary of Toyota, in a cash deal value $550 million, every corporations launched on Monday afternoon.
The deal, which constitutes $200 million upfront and the remaining over the next five years, takes Lyft’s self-utilizing tech building charges off its ledgers and moreover locks in Woven Planet to a partnership that will stare the subsidiary the order of Lyft’s platform to commercialise and arrange its future robotaxi companies and products.
The acquisition will stare Lyft’s novel self sustaining car building team, identified as Stage 5, transfer below Woven Planet Holdings’ umbrella; Lyft’s hold person-trip and rapid administration team obsessed with AV will have faith in-dwelling, rebranding from Lyft Launch Platform to Lyft Self sustaining.  Read more…Extra about Fling Hailing Apps, Self sustaining Autos, Tech, Transportation, and Immense Tech Companies
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