Connect with us

Electric Cars

Toyota buys self-driving car division of Lyft

Published

on

Toyota Motor acquires Lyft’s autonomous driving technology division for $ 550 million.

The purchase will not only give Toyota access to the Level 5 automation system, but will also provide more than 300 professionals in this area. The company does not hide that the personnel component is key in the deal.

The Japanese automaker recently formed a subsidiary company, Woven Planet, which specializes in developing self-driving cars. The company’s management confirmed that it plans to further expand the development team and acquire third-party developments. However, no timing or specific plans for future acquisitions have been released.

For Lyft, the deal will enable it to become profitable faster and remove the burden and risk of developing expensive technology that has not yet entered mass production. The buyer will transfer part of the amount – $ 200 million – immediately, and the remaining 350 million will be paid within five years.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement

Latest News

News16 mins ago

The final version of HarmonyOS 2.0 is out on June 2nd. 300,000 people have already received the update

Chinese sources have learned from a senior Huawei official familiar with the matter that HarmonyOS 2.0 will be officially released...

Phones17 mins ago

Redmi Note 10 Pro received stable MIUI 12.5

The Redmi Note 10 Pro smartphone has received the MIUI 12.5 stable update, which is available in India, Europe and...

Laptops26 mins ago

Apple to release redesigned MacBook Pro with new SoC very soon, which will be the first sign of a whole series of new products

Apple is preparing new MacBook Pro laptops and other Macs soon to be released. This was told by the editor...

Phones27 mins ago

One-click camera or battery replacement. Xiaomi may have a modular smartphone

The idea of ​​a modular smartphone that involves a quick change of the camera, screen or battery has been known...

Headphones28 mins ago

No Apple AirPods or HomePod models support new lossless audio on Apple Music

Yesterday it became known that support for Spatial Audio and Dolby Atmos technologies, as well as Lossless Audio, are being...

Components39 mins ago

Huawei’s first curved monitor with soundbar launches June 1st

Huawei will release a new 34-inch curved monitor called Huawei MateView on June 1, 2021, sources say. The gaming monitor...

News1 hour ago

Samsung Electronics May Start Construction of New Chip Plant in U.S. Next Quarter

Samsung Electronics may begin construction of a $ 17 billion chip factory in the United States in the third quarter...

News3 hours ago

Professional customizer criticized Apple TV’s auto-calibration feature

In April, with the introduction of the new Apple TV 4K, Apple also introduced the TV Calibration feature. It uses...

Advertisement

Most Popular