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Wednesday, April 28, 2021 1:00 am Toyota acquires Lyft s self-driving division YURI KAGEYAMA | Associated Press 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 tech. 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 up front, and $350 million during a five-year period, according to Toyota. It said the Woven Planet project will bring together engineers and researchers in mobility services, software and sensor assets and automated driving systems. ....
Toyota pays $550 million for self-driving unit of Lyft PUBLISHED BY Toyota Motor Corp. has bought the self-driving division of ride-hailing company Lyft for $550 million in a move that reflects the ambitions of Toyota to expand into mobility technology. The autonomous driven or robot taxis were supposed to be a reality by 2025, but things have not panned out well for companies that invested in building them. Just recently, Uber sold off its self-driving unit to Aurora for $400 million. The Lyft unit was bought out by Woven Planet Holdings, a Toyota subsidiary that focuses on innovations and investment in projects such as “smart cities,” robotics and automated driving. ....
April 28, 2021 WASHINGTON (AFP) – United States (US) ride-hailing service Lyft agreed to sell its autonomous driving division to a unit of Japan’s Toyota for USD550 million, the companies said on Monday. The move follows a similar divestment from Uber last year, with ride-sharing firms focussing on core operations as they struggle during the coronavirus pandemic. The Lyft operation known as Level 5 will be folded into Woven Planet Holdings, a subsidiary of Toyota Motor Corporation, which will create a team of some 1,200 people working on self-driving technology in Japan, the US and Britain. Lyft will receive some USD550 million in cash, with USD200 million paidup front and USD350 million over five years under the agreement. ....
Toyota acquires Lyft s self-driving unit for US$500 million Toggle share menu Advertisement Japan Toyota Lyft Share this content Bookmark TOKYO: Toyota Motor Corp has acquired the self-driving division of American ride-hailing company Lyft for US$500 million, in a move that underlines the Japanese automaker’s ambitions in that technology. The acquisition, announced Tuesday (Apr 27), 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. Advertisement Advertisement The Woven Planet project will bring together engineers and researchers in mobility services, as well as the software and sensor assets and automated driving systems to further develop the technology, according to Toyota. ....
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. 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. The Woven Planet project will bring together engineers and researchers in mobility services, as well as the software and sensor assets and automated driving systems to further develop the technology, according to Toyota. “This deal will be key in weaving together the people, resources, and infrastructure that will help us to transform the world we live in through mobility technologies that can bring about a happier, safer future for us all,” said Woven Planet Chief Executive James Kuffner. ....