Friday, October 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Acquisition

Lyft sells its autonomous vehicle division to Toyota for $550 million

Tech Gist Africa by Tech Gist Africa
04/27/2021
in Acquisition, Autonomous Vehicles, Funding, The Big 5, Transportation, World News
0 0
0
LYFT TOYOTA

LYFT TOYOTA

0
SHARES
Share on FacebookShare on Twitter

Lyft is selling its autonomous vehicle business to Woven Planet Holdings, a subsidiary of Toyota.

With the newly formed Woven Planet division, Toyota is stepping up its automation ambitions.

Woven Planet Holdings, a Toyota subsidiary, will buy Lyft’s self-driving division for $550 million in cash, with $200 million paid to Lyft up front.

The remaining $350 million will be distributed to Lyft over a five-year period. Toyota has also agreed to use Lyft’s fleet data and platform for any future commercial services.

“This is the first step in forming and getting people together. Obviously, people are needed to develop technologies and products, and this acquisition is largely about that “James Kuffner, the CEO of Woven Planet, spoke to the press.

It will also offer Toyota a direct presence in Silicon Valley and London, as well as extend the smart-city project “Woven City” at the foot of Japan’s Mt. Fuji, allowing it to effectively ride through the anticipated drastic changes in the mobility industry and major cities, Kuffner added.

The acquisition, which is scheduled to close in the third quarter of 2021, brings Lyft’s four-year journey to build and deploy self-driving cars to a close.

In a bid to avoid losing too much revenue, the firm is following in the footsteps of its competitor Uber by offloading its expensive autonomous vehicle division.

Uber sold its autonomous vehicle project to Aurora, a company created by the former head of Google’s self-driving program, last year.

 

Read more on Tech Gist Africa:

Cruise, a self-driving automobile startup, has raised $2.75 billion in funding from Walmart and other investors

In 2023, Cruise will debut its self-driving robotaxi in Dubai

 

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Meta Ray Ban Glasses
Wearables

Meta Unveils Ray-Ban Display: AI-Powered Smart Glasses with Neural Wristband

by Tech Gist Africa
09/30/2025
0

At the Meta Connect 2025 event, CEO Mark Zuckerberg introduced the Meta Ray-Ban Display, a pair of AI-powered smart glasses...

Read more
MazaoHub Tanzania

MazaoHub, a Tanzanian agritech startup, has raised $2 million in a pre-seed funding round

09/30/2025
Rekindle EpiTek

Rekindle Learning Acquires EpiTek to Forge Africa’s Premier Corporate Training Platform

09/29/2025
Duaya EXMGO

Duaya Acquires EXMGO in Six-Figure Deal, Relaunches as Duaya Go to Revolutionize Pharmacy E-Commerce in Egypt

09/29/2025
Nvidia Intel

Nvidia has announced a $5 billion investment in Intel

09/29/2025
Next Post
Max Polyakov

Max Polyakov, a space entrepreneur, has acquired South Africa's Dragonfly satellite maker

Apple and Facebook

Apple has released an iPhone update that has sparked a major feud between Apple and Facebook

Shehryar Ali Mastercard

Mastercard Appoints Shehryar Ali As Country Manager for East Africa

No Result
View All Result

The Big 5

Mohamed Alabbar

From Vision to Marketplace: Mohamed Alabbar and the Rise of Noon.com

by Tech Gist Africa
09/29/2025
0

...

Food Security

How Technology is Advancing Global Food Security and Reducing Hunger

by Tech Gist Africa
09/26/2025
0

...

Nvidia Abu Dhabi Robotics Lab

Nvidia and Abu Dhabi Institute Launch Middle East’s First AI & Robotics Lab

by Tech Gist Africa
09/26/2025
0

...

MultiChoice

Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group

by Tech Gist Africa
09/26/2025
0

...

216 Capital & Plug and Play Accelerator

216 Capital & Plug and Play Launch Tunisian Accelerator to Bridge Local Startups to Global Stage

by Tech Gist Africa
09/26/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.