Monday, June 24, 2024

Toyota gets $550-million self-driving Lyft

Lyft Inc. will sell its self-driving technology unit to Toyota Motor Corp. for $550 million, Reuters reported today. Lyft will receive $200 million cash upfront for Level 5, with the remaining $350 million paid over five years, the companies said. The deal marks Toyota’s latest foray into ride hailing at a time of growing consolidation in the capital-intensive self-driving industry. Toyota said in February it would develop and build autonomous minivans for ride-hailing networks with Aurora and longtime supplier partner Denso Corp.

 

https://ca.news.yahoo.com/lyft-sells-self-driving-tech-201012851.html

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