This is the first step of establishing and bringing together the people. Obviously building technology and product requires people, and that s much what this acquisition is about, Woven Planet chief executive James Kuffner told reporters on Tuesday.
It will also give Toyota a direct presence in Silicon Valley and London and expand smart-city project Woven City at the base of Japan s Mt. Fuji, effectively helping it ride through dramatic changes expected in the mobility industry and major centres, he said.
For Lyft, the deal will allow it to become profitable sooner and takes away the burden and risk of developing a costly technology that has yet to enter the mainstream.
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