Lyft sells self-driving unit to Toyota’s Woven Planet for $550M

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Ride-hailing company Lyft has sold off its autonomous vehicle unit to Toyota’s Woven Planet Holdings subsidiary for $550 million, the latest in a string of acquisitions spurred by the cost and lengthy timelines to commercialize the technology that have occurred within the autonomous vehicle industry. Under the acquisition agreement announced Tuesday, Lyft’s so-called Level 5 division will be folded into…
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