Lyft has signed an agreement with Woven Planet, a subsidiary of Toyota Motor Corporation, for the acquisition of Lyft’s self-driving vehicle division, which is named “Level 5” in reference to the SAE’s definitions of levels of autonomous vehicles.
The transaction also includes multi-year non-exclusive commercial agreements between Lyft and Woven Planet to accelerate the development and enhance the safety of automated driving technology.
Logan Green, Lyft co-founder and CEO says: “Today’s announcement launches Lyft into the next phase of an incredible journey to bring our mission to life. [Read more…] about Toyota to acquire Lyft’s self-driving car division
