Woven Planet

Toyota acquires Lyft's self-driving unit for $550 million

Posted in REVIEWS on April 27, 2021
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TOKYO  — Toyota 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 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. Of the payment, $200 million will be paid upfront, and $350 million Read More »