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ridesharing

Motional and Lyft to launch fully driverless rideshare service

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Motional, a driverless technology developer, and rideshare service provider Lyft have agreed joint plans to launch a multimarket robotaxi service in major US cities, beginning in 2023.

Motional says its next generation, fully driverless vehicles will be integrated, operationalized, and implemented on the Lyft network.

The two companies claim this agreement marks the largest robotaxi partnership for a major ridesharing network. It follows an ongoing and successful three-year partnership, in which Motional and Lyft operate the world’s longest-standing commercial robotaxi service in Las Vegas. [Read more…] about Motional and Lyft to launch fully driverless rideshare service

Toyota, Denso, and SoftBank pledge another $1 billion investment for Uber

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Taxi-sharing app maker Uber has been promised $1 billion in investment from companies including Toyota, Denso, and SoftBank Vision Fund.

The new funds will help accelerate the development and commercialization of its ridesharing services, says Uber in a statement.

Under the terms, Toyota and Denso will together invest $667 million and SVF will invest $333 million, valuing the new “Uber Advanced Technologies Group” entity at $7.25 billion on a post-money basis. [Read more…] about Toyota, Denso, and SoftBank pledge another $1 billion investment for Uber

Carsharing startup Ridecell closes $30 million new funding round

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Ridecell, the platform for carsharing, ridesharing, and autonomous fleet operators, has closed its Series B funding round of $28.61 million.

The investment round was led by Cox Automotive, with participation from return investor Initialized Capital.

Additional funding came from industry partners across the mobility ecosystem, including Denso, Penske, Deutsche Bahn and Mitsui.  [Read more…] about Carsharing startup Ridecell closes $30 million new funding round