Toyota’s subsidiary ‘woven planet holdings’ acquires Lyft’s autonomous car division for $550 Million: Report
Shortpedia
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Toyota is acquiring the autonomous car division of ride-hailing platform and Uber rival Lyft for $550 million, as the self-driving car industry begins to grow. Woven Planet Holdings, a subsidiary of Toyota, will acquire Lyft's self-driving division, Level 5, for $550 million in cash. Toyota has provided $200 million to Lyft and the $350 million will be paid out to Lyft over five years, The Verge reported on Tuesday.
